New Orders Container
Newbuilding activity is still highly influenced by the Corona crises. One new order was placed[ds_preview] at Yangzijiang by Zhejiang Harbor Shipping for four 1,000TEU vessels, costing 13.5mill. $ each, following an order for four 1,800TEU units at Yangfan by another Chinese owner. The global orderbook stood at 10.2% or 2.35mill. TEU, nearing a record low. Due to Covid-19, several projects are on hold.
Secondhand Sales
The S&P market is still heavily burdened by the pandemic. Brokers report about various purchase enquiries, however, very few buyers appear for negotiations. A reported sale was the 2009-built 1,700TEU »Cape Nati« at a low 5mill. $. This sets a new benchmark which may force sellers to lower their price expectations further.
Demolition Sales
While hoping for more easing of restricitions, some chash buyers are said to have taken »speculative positions.« However, prices remain at 330$/ldt, 320$/ldt and 310$/ldt in India, Bangladesh and Pakistan. Lockdowns have significantly impacted recycling; only 18 units of 37.000 TEU had been demolished in 2020, down by 63% y-o-y. Although market fundamentals remain low, forecast for box ship demolition was reduced by 30%.
