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We have been following the number of newbuild orders that have been placed since the start of 2017 and have put together some data following the top orders of newbuild tonnage. VesselsValue Deals database shows that Greek owners have placed 35 orders for new bulkers and tankers since the start of 2017. Globally only 119 orders have been placed. Here are the top five ordering countries:

Image Credits: vesselsvalue.com

Here are the Greek owners who have ordered newbuildings so far this year by number of vessels and the market value of these newbuilding contracts on the day of the order. This measure of value differs to the order value spent at the yard.

Image Credits: vesselsvalue.com

Many in the shipping industry are worried that there is an imbalance of supply and demand between the number vessels currently on the water and the amount of cargoes. This situation does not look to improve in the near future as there is just under 66 million DWT of tankers and bulkers to be delivered during the rest of 2017, representing 47% of the current bulker and tanker order book:

Image Credits: vesselsvalue.com

Over the last 5 years, a major source of finance & investment in the newbuilding market came from the private equity sector who invested heavily to capitalise in the post-crash market downturn.

Today the preference from the private equity sector is to invest in tonnage already delivered and on the water so that an immediate return on their investment can be realised.

This led to a lack of newbuilding finance available and resulted in a gap in deliveries at the major shipyards and therefore increased appetite from them to take orders.

In early 2017 the cash rich Greek community took advantage of this, securing a number of orders at competitive prices.

As we progress through 2017, yard capacity has reduced but continued buying demand from the private sector remains. This is one of the major factors that has led to the increase in newbuilding prices over the past 5 months.

Press Release

Source: Marine Insight

Published in News

BIMCO, International Chamber of Shipping (ICS) and Maritime and Port Authority of Singapore (MPA Singapore) launched a new cyber security awareness poster at Singapore Maritime Week 2017.

 

The launch was greeted with enthusiasm by the audience discussing cyber security at the Singapore Maritime Technology Conference and Exhibition.

 
 

The poster provides basic information to shipboard personnel on their role and contribution to managing maritime cyber risks. It also highlights how staff need to be aware of how to respond effectively to cyber risks. The advice complements information provided on procedural protection measures also available in the industry Guidelines for Cyber Security Onboard Ships.

 
Giles Noakes Head or Maritime Security at BIMCO says:

Whilst shipboard personnel are one of the major cyber vulnerabilities, with improved basic awareness, they can contribute to ensuring that company approaches to managing cyber risks are effective. This poster provides all the information they need in a clear and accessible form

MPA Singapore will distribute the A3 size poster through their pilots for ships calling at Singapore ports.

The poster is also available in an electronic format for download from the BIMCO and ICS websites for use by shipping companies.

 

Reference: bimco.org

Source: Marine Insight

Published in News