日本海事新聞ニュース Japan Maritime Daily Jul 08, 2024 (Mon)

‌【Current of Japanese shipowners】Shipping majors waver over Capesize newbuilding investments

　“We are now paying the price for not investing in Capesize.“ 　A shipping broker began speaking calm ・・・ 続きはログインして下さいnext %E3%80%80%E2%80%9CWe+are+now+paying+the+price+for+not+investing+in+Capesize.%E2%80%9C+%3Cbr%3E%E3%80%80A+shipping+broker+began+speaking+calmly+in+a+room+in+a+building+in+central+Tokyo%2C+where+the+scorching+heat+continued.+%3Cbr%3E%E3%80%80Recently%2C+the+shipping+broker+has+been+approached+with+several+Capesize+vessel+time+charter+%28TC%29+deals+from+shipping+majors.+%3Cbr%3E%E3%80%80%E2%96%A0+Capesize+fleet+shrinks+%3Cbr%3E%E3%80%80A+shipping+broker+explains.+%3Cbr%3E%E3%80%80%E2%80%9CThe+number+of+Capesize+vessels+operated+by+the+shipping+majors+peaked+in+2011-2012%2C+a+few+years+after+the+Global+Financial+Crisis+%28September+2008%29%2C+and+rose+to+around+360+vessels+in+total+for+the+three+shipping+majors.+That+number+is+now+down+to+less+than+290.+This+is+the+result+of+a+decline+in+the+ratio+of+long-term+chartered+ships+and+delays+in+alternative+investments+while+they+hesitated+to+switch+to+new+fuels.%E2%80%9C+%3Cbr%3E%E3%80%80At+the+end+of+March+2024%2C+the+number+of+Capesize+ships+in+operation+was+120+for+NYK%2C+78+for+MOL%2C+and+86+for+%E2%80%9CK%E2%80%9DLine.+%3Cbr%3E%E3%80%80Over+the+past+decade%2C+NYK+has+struggled+to+write+off+high-cost+Capesizes+that+it+had+signed+long-term+contracts+for+in+2011+and+2012.+%3Cbr%3E%E3%80%80Between+last+year+and+this+year%2C+it+was+the+time+to+exercise+purchase+options+%28PO%29+to+buy+ships+from+shipowners%2C+and+the+company+purchased+Capesize+ships+that+were+being+chartered.+According+to+sources%2C+the+company+sold+several+ships%2C+taking+advantage+of+the+weak+yen.+%3Cbr%3E%E3%80%80The+shipping+majors%2C+on+their+part%2C+have+a+rationale+for+it.+%3Cbr%3E%E3%80%80A+shipping+executive+explains.+%3Cbr%3E%E3%80%80%E2%80%9CIt+is+difficult+to+predict+the+future+transport+of+raw+materials+for+steel.+In+order+to+reduce+CO2+%28carbon+dioxide%29+emissions%2C+steel+manufacturers+are+successively+announcing+that+they+will+switch+from+blast+furnaces%2C+which+use+raw+materials%2C+to+electric+furnaces%2C+which+use+scrap+iron+as+raw+material.+%E2%80%9CIn+addition%2C+as+a+listed+company%2C+we+are+hesitant+to+invest+in+new+Capesize+ships+because+we+would+need+to+switch+to+new+fuels+such+as+LNG+%28liquefied+natural+gas%29+and+methanol.%E2%80%9C+%3Cbr%3E%E3%80%80There+are+also+aspects+of+Japanese+shipowners+that+make+them+hesitant+to+own+Capesize+ships.+%3Cbr%3E%E3%80%80In+the+Capesize+market%2C+three-+to+five-year+time+charters+became+the+norm+as+the+risks+of+long-term+contracts+became+apparent.+According+to+Clarksons+Research%2C+the+new+shipbuilding+price+of+a+Capesize+ship+was+%2476.5+million+as+of+June%2C+up+significantly+from+%2467+million+in+2023.+On+the+other+hand%2C+despite+being+the+most+expensive+of+all+dry+cargo+ships%2C+market+fluctuations+have+been+increasing+in+recent+years.+%3Cbr%3E%E3%80%80A+trading+company+employee+explains.+%3Cbr%3E%E3%80%80%E2%80%9CAssuming+the+current+price+of+a+new+Capesize+vessel+for+a+five-year+time+charter+period%2C+the+charter+fee+would+be+around+%2427%2C000.+Current+spot+charter+rates+remain+at+%2428%2C000%2C+but+it+is+not+uncommon+for+the+Capesize+market+to+fall+below+%2410%2C000.+The+high+new+shipbuilding+prices%2C+the+lack+of+long-term+contracts%2C+and+the+drastic+fluctuations+in+market+conditions+are+also+factors+that+make+Japanese+shipowners+hesitant+to+own+ships.%E2%80%9C+%28Shipping+Department%29+%3Cbr%3E%E3%80%80%E2%96%A0+TC+is+fueled+by+heavy+oil+%3Cbr%3E%E3%80%80So%2C+is+the+future+of+the+Capesize+business+really+bleak%3F+%3Cbr%3E%E3%80%80At+the+international+shipping+exhibition+%E2%80%9CPosidonia+2024%E2%80%9C+held+in+June+this+year%2C+the+majority+of+opinions+expressed+by+several+Greek+shipowners+were+that+the+Capesize+market+would+remain+strong+in+the+future.+%3Cbr%3E%E3%80%80A+Greek+shipowner+who+mainly+owns+Capesize+vessels+said%3A+%3Cbr%3E%E3%80%80%E2%80%9CThe+main+reason+why+the+Capesize+market+remains+strong+is+the+small+backlog+of+new+ships+on+order.+As+of+June+this+year%2C+the+proportion+of+new+Capesize+ships+on+order+to+the+existing+tonnage+was+only+6%25%2C+lower+than+13%25+for+Panamax%2C+11%25+for+Handymax%2C+and+22%25+for+mega+container+ships.+China%E2%80%99s+iron+ore+imports+are+also+strong.+If+we+can+capture+the+exhaust+gas+from+blast+furnaces+using+CCS+%28Carbon+dioxide+Capture+and+Storage%29%2C+a+certain+amount+of+blast+furnaces+will+continue+to+operate.%E2%80%9C+%28Greek+shipowner%E2%80%99s+leader%29+%3Cbr%3E%E3%80%80Many+of+these+Greek+shipowners+are+placing+orders+for+new+Capesize+heavy+oil-fired+vessels.+Regarding+new+shipbuilding+prices+of+ships+compatible+with+new+fuels%2C+which+are+considered+to+be+expensive%2C+he+said%2C+%E2%80%9CWhat+we+do+is+a+family+business.+We+don%E2%80%99t+feel+any+particular+need+to+promote+their+environmental+friendliness+like+listed+companies+do.+In+fact%2C+by+adopting+new+technologies+such+as+increasing+engine+efficiency%2C+selecting+optimal+routes%2C+and+reducing+frictional+resistance+on+the+bottom+of+the+ship%2C+even+heavy+oil-fired+engines+can+clear+current+environmental+standards.%E2%80%9C+%28same+as+above%29+%3Cbr%3E%E3%80%80Recently%2C+some+shipping+majors+have+indicated+a+move+to+extend+the+time+charter+periods+for+Capesize+ships+to+seven+years.+%3Cbr%3E%E3%80%80A+Japanese+shipowner+speaks.+%3Cbr%3E%E3%80%80%E2%80%9CShipping+majors+have+no+choice+but+to+order+new+environmentally+friendly+Capesize+ships+for+their+own+fleet.+On+the+other+hand%2C+to+increase+the+fleet%2C+they+will+use+heavy+oil-fired+Capesize+vessels+as+time+charter+that+shipowners+own.+In+other+words%2C+they+will+probably+use+the+new+fuel+on+their+own+ships+and+heavy+oil+on+time+charter+ships.%E2%80%9C+%28Imabari+shipowner%29+%3Cbr%3E%E3%80%80In+the+past%2C+shipping+majors+have+incurred+huge+losses+due+to+miscalculated+timings+and+poor+investment+decisions+in+Capesize+vessels.+From+this+reflection%2C+a+principle+called+%E2%80%9Clong-term+charter+risk%E2%80%9C+was+born.+%3Cbr%3E%E3%80%80However%2C+rising+new+shipbuilding+prices+around+the+world+have+made+them+difficult+to+procure+Capesize+vessels.+Should+they+accept+long-term+charters%2C+a+forbidden+fruit%2C+and+lower+charter+rates%2C+or+should+they+make+up+the+shortfall+by+short-term+charters+from+Greek+shipowners%3F+%3Cbr%3E%E3%80%80The+mixture+of+positive+and+negative+factors%2C+such+as+the+difficulty+in+predicting+future+demand+trends+for+raw+materials+for+steelmaking+and+the+small+number+of+new+ship+order+backlog%2C+is+making+it+difficult+for+shipping+majors+to+invest+in+Capesize+ships.+%3Cbr%3E%28Japanese+ship+owners+coverage+team%29+%3Cbr%3E%3D+Posted+every+other+Monday+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E

【国内船主の今】(373)さまようケープ投資。新燃料は自社船、重油焚きはTC

2024/07/08(月)

日本海事新聞 JMD

関連記事ニュース Related news