BHP talk Capesize

According to a number of shipbuilding and market sources, BHP Billiton appears to have sounded out a Capesize bulker order with shipyards in Japan, South Korea and China. It is believed that the company intends to procure a new type of ship that has a draught that is 16.5m, shallower than the conventional ships, and loading capacity of 200,000 dwt for the purpose of enhancing the efficiency of cargo handling operations at its own berth in Australia. In addition to the shallow draught, the new ships should have a maximum length of 300m and a 50m breadth. At present, the standard for the 200,000 dwt bulker class is length of 292m, breadth of 45m and draught of about 18.2m.

A shipbuilding-related source claimed that the Capesize builders in Japan have responded to the inquiries of BHP, with some of them already giving estimates on ship prices. It is not clear whether or not the inquiries will progress into detailed talks, but it seems that this deal will be the first large-scale projects since the autumn of 2008 for the newbuilding market in the dry segment. The source added that if the plan advances into concrete talks, then it is highly probable that the order will be for several ships for delivery in/after 2013.

It is believed that BHP also offered the same project details to shipyards in South Korea and China. There is also information that it approached South Korean builders ahead of yards in Japan, according to the market source.