The global container shipping market set off a “Crazy” ship grabbing war

The number of new ship orders exceeded 300, a sharp increase of nearly 8 times year-on-year, and 277 second-hand ships doubled year-on-year. In the first half of the year, the number of new ship orders in the container ship market and the trading volume and price of second-hand ships rose together. Under the dilemma of "one ship is difficult to find" in the container shipping market, shipping companies set off a crazy ship grabbing war.

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Orders for new ships were about 300, with a year-on-year increase of 8 times

According to the latest statistics of vesselsvalue, the order volume of new container ships in the first half of the year reached 286, about 2.5 million TEU, with a total value of US $21.52 billion, more than twice the record level of US $9.2 billion of 99 ships in 2011. Compared with the same period last year, the order volume of container ships increased by 790%, while the order volume of container ships was only $8.8 billion for 120 ships in 2020 and $6.8 billion for 106 ships in 2019.

Vesselsvalue data show that the vast majority of container ship orders this year are concentrated in the field of new Panamax ships, with a total of 112 ships valued at $13 billion, compared with 32 ships valued at $1.97 billion in 2020.

According to the classification of ship owners, seaspan, the owner of the world's largest independent container ship, has the highest order volume, with a total of 40 603000 TEU, worth US $3.95 billion; EVA shipping ranks second with 22 orders of US $2.82 billion; Dafei ship, Wanhai shipping and HMM (former modern merchant ship) ranked 3-5 respectively.

Alphaliner's statistical results are higher. In the first half of the year, China, Japan and South Korea received more than 300 container ship orders, totaling 2.88 million TEU, accounting for 11.8% of the total transportation capacity of 24.5 million TEU.

Driven by the crazy order tide, the volume of hand-held orders of container ships has also increased. As of June 30, the hand-held orders have increased from the low of 2.29 million TEU in the same period last year to 4.94 million TEU, and the proportion of hand-held orders in the existing fleet has also increased from 9.4% in the same period last year to 19.9%, of which the proportion of hand-held orders in the field of 11000-25000teu is as high as 50% of the existing fleet.

At the same time, so far this year, the new shipbuilding price of container ships has increased by 15%.

In the second half of the year, the number of new orders for container ships is also expected to be considerable. On July 6, Dexiang marine ordered four 7000teu container ships at Waigaoqiao Shipbuilding. On the same day, seaspan also announced that it had signed a construction contract for 10 LNG powered 70000teu container ships with a major shipyard, and the new ships would be leased to Israel star shipping. On July 15, COSCO Shipping Group disclosed that it ordered 6 14092teu container ships and 4 16180teu container ships in Yangzhou COSCO Shipping heavy industry.

In addition, it is generally believed that Yangming shipping will consider ordering the first batch of the world's largest 24000teu super large container ships. Maersk is said to be negotiating with Hyundai Heavy Industry Group to build at least 6 and at most 12 15000 TEU methanol powered container ships. Maersk has ordered the first 2100 TEU methanol powered dual fuel feeder container ship in Hyundai Weipu shipbuilding on July 1.

Alphaliner said that assuming that the orders in these rumors can be successfully realized and the additional orders from other ship owners will increase, the number of container ship handheld orders may increase by about 1 million TEU in the second half of this year to reach the level of 6 million TEU. By the end of this year, the proportion of container ship handheld orders in the existing fleet will be further expanded to about 24%.

277 second-hand ships were sold, and the ship price soared four times

Stimulated by the hot market in the container transportation market, the volume and price of the second-hand ship market rose together. The trading volume of container ships more than doubled in the first half of the year, and the ship price increased to four times that of last year.

Citing vesselsvalue, the Baltic International Shipping Association (BIMCO) said that the trading volume of second-hand container ships totaled 277 in the first half of this year, an increase of 103.7% compared with 136 in the same period last year. Although the number of container ships has more than doubled, the total capacity of 227 container ships that changed hands in the first half of this year was 922203teu, an increase of only 40.1% based on capacity, and the average ship size was 3403teu, lower than the level in the same period last year.

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According to the number of vessels, the container ship with the largest trading volume this year is the feeder ship of 100-2999teu. The trading volume of second-hand ships is 267, with a year-on-year increase of 165.1%, and the transportation capacity is 289636teu. However, in terms of transportation capacity, the transaction volume of 5000-9999 TEU super Panamax container ships is the highest, and the total transportation capacity of 54 second-hand ships reaches 358874 TEU. Large ships are relatively unpopular in the second-hand ship market. Only five container ships of 10000 TEU and above changed hands in the first half of the year.

Consistent with the soaring trend of container ship freight rate and rent, the second-hand price of container ship has also increased several times. According to vesselsvalue, among the regional ships whose transaction prices have been published, the average second-hand ship price in June was US $17.6 million, more than four times that of US $4 million in the same period last year.

According to Clarkson's data, the price of large, medium and small container ships also shows an increasing trend according to the number of TEU. The most prominent ship type is in the range of 2600teu to 9100teu, with the ship price rising by US $12 million to US $12.5 million, which is very popular in the market.

According to the analysis of insiders, due to the continuous increase of transportation demand and rising freight rates, the increase rate of new shipping capacity can not keep up with the growth rate of this wave of demand, which has led to a significant increase in the volume and price of second-hand ships this year.

Peter sand, chief shipping analyst of BIMCO, said: "in order to obtain additional capacity to meet current demand in the short term, container shipping companies can only choose the chartering and second-hand ship market. As the available transport capacity is quickly snapped up, the chartering market is becoming more and more expensive and even difficult to find a ship. Therefore, container shipping companies can only choose to buy existing second-hand ships. At present, whether it is chartering or purchasing ships, the cost is quite high. "

"From the seller's point of view, the current second-hand ship price provides a huge motivation to sell, because the profit from selling the ship today may make up for the loss of the ship in the whole service life."

Clarkson attributed the large increase in second-hand ship transactions to the overall improvement of the shipping market. In the first half of the year, the clarksea index averaged US $21717 / day, a year-on-year increase of 27%, 64% higher than the average level since January 2009, the highest semi annual data level since 2008. Among them, container ship is undoubtedly the most "prosperous" ship type field, setting a record high.

 


Post time: Aug-14-2021