Capt.Hansraj Singh’s Post

Idan Ofer-led Eastern Pacific Shipping Pte. Ltd. is said to have added a near $1bn order for up to 12 car carriers to its vast #newbuilding programme of 80 vessels worth more than $6bn. Industry sources said the Singapore-based company had contracted two shipyards in China — Fujian Mawei Shipbuilding and China Merchants Jinling Shipyard — to build the series of LNG dual-fuel 5,500-ceu carriers. It has booked up to eight newbuildings at Fujian Mawei Shipbuilding — four firm vessels with the option for four more — while Jinling was contracted to build two firm ships with the option for an additional two. Eastern Pacific declined to comment on its newbuilding activities. One car carrier player confirmed the deals, adding that Eastern Pacific had lined up employment for some of the newbuildings with Spanish ro-ro car carrier operator Suardiaz Shipping Lines. The charter period and rates have yet to emerge. A car-carrier specialist said the mid-size pure car/truck carriers that Eastern Pacific has ordered are likely to be deployed between China and Japan, the US, Oceania, or in intra-Europe. He added that these vessels are needed as not all ports can accommodate larger ships of 9,000 ceu to 10,000 ceu. “The 5,500-ceu newbuildings were ordered with the intention of having a fleet renewal for regional trade … the orderbook for mid-size PCTCs is very low, unlike the bigger vessels,” the market specialist said. Clarksons’ Shipping Intelligence Network shows the global orderbook for PCTCs stands at 201, of which 96% are larger ships of between 6,500 ceu and 10,800 ceu. The remaining seven newbuildings comprise four 4,200 teu vessels, two of 3,000 ceu and one of 2,450 ceu. “For now, the Carbon Intensity Indicator and FuelEU are yet to be fully introduced, but I assume when it does after 2026, there will be probably a new contracting wave of PCTCs of this size,” the specialist said. He thinks shipowners may face a challenge in getting shipyards to build mid-size PCTCs as the vessels take up the same berth space as larger car carriers of between 9,000 ceu and 10,500 ceu. “Once again, Eastern Pacific is ahead of the [newbuilding] curve but it is paying as much as the large PCTCs that it had ordered,” he said. Eastern Pacific is said to be paying about $80m each for the mid-size ships, or about $960m for the dozen vessels. With the spree on 5,500-ceu vessels, the company is calculated to have splurged almost $2.5bn in ordering 30 car carriers including 18 LNG dual-fuel 7,000-ceu newbuildings between 2021 and early this year at an average price of about $83m apiece at yards under China Merchants Jinling Shipyard. #shipping #shippingindustry #PCTC #Greenshipping Pls refer to the link for more insights :https://lnkd.in/echw_jDM

Eastern Pacific signs for up to a dozen car carrier newbuilds. Idan Ofer’s Eastern Pacific Shipping (EPS) has added to its massive orderbook with a fresh deal for up to 12 car carrier newbuilds in China. The Singapore-based diversified shipowner, with around 80 newbuilding projects, has contracted for up to eight 5,500 ceu vessels at Fujian Mawei Shipbuilding and up to four at China Merchants Jinling Shipyard. The order covers four firm LNG dual-fuel units at Fujian Mawei, delivering in 2027, and two firm at Jinling, with shipbuilding sources suggesting a price of about $80m each. The construction of the four mid-sized car carriers will be carried out at Xiamen Shipbuilding, with the owner securing options for an additional four vessels. At the same time, the Jinling Shipyard deal came with two optional units. Earlier this year, EPS also booked up to eight 50,000 dwt MR tankers at Fujian Mawei, with delivery of the four firm ships due in 2026, while Ofer’s cooperation with China Merchants Jinling continued following contracts for a series of 7,000 ceu dual-fuel newbuilds. About 35 firm car carriers have been contracted year-to-date, according to Clarksons data, while last year saw 88 units firmed up mostly across Chinese shipyards and predominantly larger vessels.

🚢 Shipyard Squeeze: Global Capacity Overloaded   The shipbuilding industry is facing a significant capacity crunch due to a $188 billion surge in vessel orders, the largest since 2007. This surge, driven by the need to support growing global trade, has led to long wait times for new ships, with some orders not being fulfilled until 2028. The demand is particularly high for container and gas carriers, which are more profitable for shipyards compared to bulk carriers and oil tankers. Major shipbuilders in South Korea, Japan, and China are experiencing tight yard space and extended backlogs, with specialized shipbuilders poised to benefit from focusing on high-value orders. Despite economic challenges, global seaborne trade is expected to continue growing, further driving demand for new vessels.   At John S. James Co., we understand the complexities of global trade and the importance of timely and efficient shipping solutions. Our expertise in U.S. Customs brokerage and freight forwarding ensures that your cargo moves smoothly, even in a constrained shipbuilding market. Trust us to handle your logistics needs with precision and care. Visit johnsjames.com to learn more about our comprehensive services and how we can support your business.   #ShippingIndustry #GlobalTrade #Shipbuilding #FreightForwarding #USCustoms #Logistics #SupplyChain #JohnSJamesCo #Maritime #SouthKorea #Japan #China #LNGCarriers #ContainerShipping

Top 22 World’s Largest Container Ships in 2024 Check out this article 👉 #ContainerShips #CargoShips #Shipping #Maritime #MarineInsight #Merchantnavy #Merchantmarine #MerchantnavyShips

BIMCO Container Shipping Market Overview for Q1 2024. #maritime #shipping #vessels #shipsandshipping #maritimelaw #maritimesafety #shipmanagement #maritimeindustry #ships #shippingindustry #marineindustry #maritimehistory #ocean #seafarers #shipbuilding #shipowners #maritimesecurity #maritimeinnovation #maritimelaw #maritimetraining #maritimeeducation

Top 22 World’s Largest Container Ships in 2024 Check out this article 👉 #ContainerShip #CargoShip #Shipping #Maritime #MarineInsight #Merchantnavy #Merchantmarine #MerchantnavyShips

Luxembourg – April 17th, 2024: DIS announces the signing of a shipbuilding contract with Jiangsu New Yangzi Shipbuilding Co., China, for the purchase of two (2) new Long Range (LR1 – 75,000 DWT) product tanker vessels at a contract price of US$ 55.4 million each. These new very efficient vessels are expected to be delivered to us in September and November 2027, respectively. P. d’Amico, Chairman and CEO of d’Amico International Shipping commented: “I am delighted to announce the agreement to build these two “Eco” product tanker vessels, which should be the most efficient and environmentally friendly LR1 vessels in our fleet. This deal is aligned with our strategic objective of controlling a very modern fleet. Additionally, thanks to this agreement, DIS will further strengthen its presence in the LR1 segment, reaching a total fleet of 8 modern vessels. I believe this segment of the market will continue to offer interesting returns in the next several years. In fact, on the one hand, the product tanker order book is still rather low, in particular for this size vessels, and on the other hand, the secular dislocation of world refining capacity away from some key consuming regions will continue expanding ton-mile demand, likely further benefiting LR1 vessels, which are currently already in high demand from our customers.” #DISIM #damicointernationalshipping #shipping #vessel #eco #investment #producttanker https://lnkd.in/di5nMnzH

#ShippingNews #TESlogistics #FreightNews #Shipping #Freight Cosco Shipping Heavy Industry drydock expands at Zhoushan THE new 300,000 tonnes-class drydock, measuring 430 metres long and 120 metres wide with a depth of 12.5 metres, is scheduled for completion by the end of 2026, reports the UK Seatrade Maritime News. This drydock will have the capacity to accommodate the world's largest containerships, addressing the global shortage of repair facilities capable of handling such vessels. In addition to the new drydock, the shipyard will upgrade its No 7 dock facility to enhance its ship repair capabilities. Upon project completion, the shipyard's production capacity will increase, enabling the construction of eight vessels and the repair of 350 vessels annually. Situated in Zhoushan, a significant ship repair base in China, this expansion project will stimulate new business growth for the shipyard, supporting its transition towards new energy, advanced technology, efficiency, and higher value-added markets, according to Cosco Shipping Heavy Industry (Zhoushan). Cosco Shipping Heavy Industry operates nine shipyards with an annual shipbuilding capacity exceeding 7.5 million tonnes and can repair over 1,500 vessels annually.

Global Shipping Industry Faces Challenges with Ageing Fleet Amid Shipbuilding Boom The global shipping industry is grappling with an ageing merchant fleet, and even the current surge in shipbuilding may fall short of replacing older vessels in time, according to Xclusive Shipbrokers’ latest weekly report. The report highlights a significant rebound in shipbuilding over the past two years, primarily fueled by a recovery in freight rates post-Covid-19. “This surge has led to a notable increase in the orderbook-to-fleet ratios across various... Read more on the link below https://lnkd.in/gwW4uNga

𝐌𝐒𝐂 𝐬𝐭𝐫𝐢𝐤𝐞𝐬 𝟏𝟎-𝐬𝐡𝐢𝐩 𝐧𝐞𝐰𝐛𝐮𝐢𝐥𝐝 𝐝𝐞𝐚𝐥 𝐚𝐭 𝐇𝐞𝐧𝐠𝐥𝐢 𝐇𝐞𝐚𝐯𝐲 Gianluigi Aponte’s Mediterranean Shipping Co (MSC) has continued its newbuilding spree with a maiden order at Hengli Heavy Industry. The Swiss-based liner giant has signed up for a series of 10 LNG dual-fuelled containerships of 21,000 teu with deliveries likely in 2027. No value has been placed behind the deal, which could, according to the latest shipbuilding trends, top $2.5bn and follows a strategic cooperation framework agreement on a wide range of areas, including newbuilds, engine manufacturing, ship repair, and vessel retrofitting the duo inked in August. MSC, led by Soren Toft, has a fleet in excess of 6m teu, commanding a 20% share of the global operated container fleet. The world’s largest containerline has inked multiple large orders across Chinese shipyards this summer, and before the latest deal, the company’s massive orderbook stood at about 130 ships, which according to Alphaliner figures was projected to boost the fleet by an additional 1.8m slots in the coming years. In related boxship newbuild news, brokers suggest German liner Hapag Lloyd is lining up a series of 9,000 teu and 17,000 teu LNG dual-fuel vessels at yards in China with a letter of intent on the cards in the fourth quarter, while an unnamed Greek owner is in talks for 16,000 teu newbuilds in South Korea for delivery in 2027. As for the fast-growing shipbuilder, formerly known as STX Dalian, for which the MSC deal marks its first containership order, the yard has also recently reserved four VLCC newbuild slots for Hengli Group — the second supertanker order from its parent company — with deliveries set for 2026 and 2027.