Greeks busy ordering newbuildings last month

After a steep drop in activity during the first three months of the year, Hellenic ship owners have been busy ordering newbuildings at a pace similar to that of 2007. According to the latest report by shipbroker G.Moundreas, a total of 35 ships, worth about $3.33 billion, were ordered by 12 shipowners during April.

In his comments on the report, the shipbroker marks the return to figures similar to those of the previous year, wondering if this development is sustainable or not. What?s also notable in the latest activity is the return of Greek shipowners to the tanker market, after a long period of almost no activity during which the large majority of orders were for bulk carriers.

April marked the turn to VLCCs and large tankers in general, especially in Korean shipyards. For instance, Alba Maritime placed a large order totaling $930 million at Hyundai Heavy for six VLCCs scheduled for delivery during 2011-2012. The 318,000-dwt vessels individual price tag stands at $155 million. The same price was paid by Marmaras Navigation for eight identical sized VLCCs also coming from Hyundai for delivery during 2011-2012. Thenamaris opted for a Suezmax duo of 156,000 dwt from Rongseng at a cost of $85 million each with expected delivery during 2009. Similarly, Alpha Tankers contracted its first vessels of the year in the shape of two Capers of 177,000 dwt from SWS yard at a total cost of $180 million. The company also went for an aframax duo from HHI Samho. The 105,000 dwt will cost a total of $144 million for delivery during 2011.

Another important development during the course of last month was the first attempt by Dryships to enter the oil rigging market by ordering two drillships at the price of $800 million per unit. Finally, Naftomar ordered one 9,800m3 LPG carrier which will be delivered by Korea?s STX in 2011 at a price of $41 million.