BRL’s Weekly Newbuilding data shows that container feeder ship orders are on the rise
The BRL report from 24 May 2021 said that there has been a “momentum” in feeder ship ordering with seemingly "incessant" demand for the vessels.
“Chinese owners are very prominent as they seek more self-sufficiency in feeders to ease increasing congestion,” the report said. Orders were shared between South Korea and China. BRL Weekly Newbuilding said that joint South Korean and Chinese-owned Sinokor Merchant Marine will invest in a potential 12-ship order with the Korean builder Hyundai Mipo.
“Sinokor has been spending a lot of money in recent months on a fleet replenishment programme and bid to own one of the world’s largest feeder fleets,” BRL noted.
Sinokor has firmed an initial four-ship order for 1,800 TEU vessels with two rolling options for a further four units. These were followed by sister-ship orders for domestic owners Nam Sung Shipping and Dong Jin Shipping. No prices were confirmed on the orders.
Elsewhere, Greek owner Cosmoship Management exercised options for two more 1,528 TEU vessels from Guangzhou Wenchong for delivery in 2023.
BRL’s report noted “The duo will be built to a Wenchong 1500II standard design.” BRL said that a per unit price of US$22.5M was confirmed and that four of the vessels are now on order for the Greek company.
German owner Vega Reederei firmed orders for four 1,868 TEU feeders from Yangfan Group with deliveries from October 2022. Each vessel will cost US$23M and will be the yard’s SDARI Sealion design, according to BRL.
Orders for ultra large container ships (ULCS) have also been contracted. Two ULCCSs will be shared between Hudong-Zhonghua and Jiangnan Shipyard. Both ships will cost US$150M with deliveries in December 2023 but, said BRL, there will be slippage. Nominal ownership will be vested in ICBC Financial Leasing and CSSC Shipping Leasing.
Japan could also see a boom in its shipbuilding, BRL’s Newbuilding Weekly said,
“The rising prices and full shipyards could open the door for more export orders in Japan,” according to BRL, with NYK having ordered five mid-size 14,052 TEU vessels from Japan Marine United for delivery from early 2022. The vessels will trade in an Ocean Network Express’ (ONE) service from Singapore.
Register on our events page for Riviera’s ongoing series of free-to-attend webinars.