Fearnleys Weekly notes some activity in the newbuilding sector. All together 9 newbuildings reported, most of these being bulk carriers. It seems many owners are in discussions and meeting with yards, ultimately trying to time the bottom of the current cycle.

CAPE Capesize business got the week off to a very slow start as a holiday in Singapore added to the dullness. The market continued to remain gloomy, really facing a very tough period. From the Atlantic, Tubarao/Qingdao business paid $17.30. The Pacific basin saw P. Hedland/Qingdao paying $6.50 and prompt modern tonnage fixing period of 3/7 months trading at $7,750 daily.

Fednav has returned to Oshima for a series of 6 ice classed Handysize Dry Bulk vessels for delivery in 2015 and 2016, Fearnleys Weekly notes. This brings the number of vessels contracted by Fednav this year to 21 units. The Danish listed company Norden has placed an order for 2 firm and 4 optional fuel efficient 40,000 dwt MR tankers at the Guangzhou shipyard with delivery slated for 2014. Fredriksen has over the last week confirmed the order for 2 firm plus 4 optional VLGC vessels at Jiangnan. The 2 firm units will be delivered in 2014 at a price reported to 63.5 million USD.

CAPE A slow opening to the week in the Atlantic with rates still under pressure. It emerged that Rio Tinto fixed several ships Friday and Monday. The key Dampier/Qingdao run dropped to $6.70 late last week and held steady at that number as the week opened. Out of the Atlantic STX Pan Ocean fixed an LME for an end August/early September  loading  from  Saldanha  to  Qingdao  at  $13.20.

Active dry bulk newbuilding market this week, with all together 10 ships reported. The entire collection of bulkers was ordered at three Chinese shipyards, Fearnleys says. Swiss Marine has ordered two bulk carriers (dwt 64.000) at Jingling. The price is undisclosed with delivery expected in 2013, the Fearnleys Weekly report notes. Iolcos Hellenic has also ordered two bulkers at Hudong.

It has been a quiet week in shipbuilding this week. In total 4 ships reported, 2 of which are MR tankers and 2 container carriers. It seems prices are still softening slightly due to weaker steel prices. In the secondhand market, the "White Stars" (115.500 / 2012) tanker vessel has been snapped up by Greek buyers for USD 43 million.  

CAPE Another slow start of the week with an extreme lack of business done. Charterers appeared to be uninterested in fixing and owners were facing both mounting tonnage and weakening numbers, resulting torates remaining under pressure. Plenty of available tonnage inhibited any hopes for gains in the market. In the Atlantic, a Tubarao/Qingdao ore cargo paid $18.00 for late August loading. The Pacific basin held steady on the lack of direction and concluded business.

It has been an active week for Hyundai Mipo with totally 8+8 MR tankers contracted at the yard. D`Amico signed up for 2+2 MR tankers of the new Hyundai Mipo ECO Shallowmax 40,000 dwt design. Scorpio Tankers has also returned to Mipo for their ninth and tenth MR tankers at the yard. Odfjell has also signed newbuilding contracts with Mipo over the last week for 4+4 MR tankers of 46,000 dwt.

CAPE Not much new business surfaced on the week's opening, especially in the Pacific. In the Atlantic, trading was somewhat slow and pressure seemed to mount on rates, but still some vessels managed to secure employment for round and front haul business.

The newbuilding ordering activity has picked up some pace over the last week with orders placed both in the Container, Dry Bulk, Ro-Ro and the LPG sector. In the LPG sector, Geogas has exercised their option for one more midsize LPG vessel at Hyundai Mipo, while K-line has ordered one VLGC at the domestic shipyard Kawasaki Heavy. Anthony Veder of the Netherlands has returned to Dingheng Shipbuilding ordering two 4,700cbm ethylene/LPG carriers. Price reported at USD 22 million.