French orders to foreign shipyards

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58 Seine, 34,750 dwt, blt 1999 by Daewoo, owned by OMI and chartered by Total • What will the consequences of consolidation among the oil companies be? The answer to these questions will depend on changes in the refined product transport sector over the next four years. The refined product carrier second-hand market 55 ships between 20,000 and 60,000 dwt were sold in 1999. Of these, 23 were built before 1980, 25 during the eighties, and 7 during the nineties. 15 of them had a deadweight ranging between 20,000 and 29,999, 27 between 30,000 and 40,000 and 13 between 40,000 and 60,000. Among the 55 ships, two had stainless steel tanks and several others were uncoated. Although the second-hand market followed the downward trend in freight rates, it nonetheless operated on several tiers. Modern units mostly maintained their value, while the oldest vessels without SBT or having other commercially obsolete characteristics suffered greater drops in value, with little hope of recovering it. If one cannot really talk of a genuine firming of the market in the latter part of the year, it was noted a renewed interest. Since relatively little attractive tonnage was available for sale, shipowners had to pay up for same, the only alternative for modem vessels being contracting new ships. With low construction prices and little available offer, some buyers indeed pursued this route. Below are some of the representative sales of the year: • “Nordfarer”, 29,997 dwt, built in 1988 by Shin Kurushima, 15 tanks, epoxy coated, coiled, IGS (Inert Gas System) and 4 grades, sold in August to Vietnamese buyers for a reported $12.5 million. • “Sininni” and “Sitara”, 29,998 dwt, built in January 1992 and June 1991 by Stocznia Szczecinska, epoxy coated, coiled alubrass and IGS, sold together in November for $21.75 million to clients of Denholm. • “Kenneth T. Derr” (35,026 dwt, built in 1982,15 tanks, coiled, SBT and IGS) ; “Alden W. Clausen” (35,588 dwt, draft 11 meters, built in 1981) ; “Raymond E. Galvin” (35,596 dwt, built in 1983) ; “Carla A. Hills” (35,597 dwt, built in 1981) ; “George H. Weyerhaeuser” (35,597 dwt, built in 1981) ; “Samuel H. Armacost” (35,607 dwt, built in 1982). All these vessels were built by Mitsubishi, and were sold “en bloc” in May to clients of B+H for a reported $ 44-45 million, with some of them being chartered back to the sellers. • “Meandros”, 40,632 dwt, built in 1982 by Mitsubishi, epoxy coated, coiled alubrass, SBT, IGS and COW, sold in September for around $8.75 million to Italians. • “St. Jacobi”, 43,760 dwt, built in 1999 by Dalian, double-bottom, double-sides, coated and coiled, resold in November to clients of Chemikalien Seetransport at a reported price of $21.25 million, with a 5-year charter attached, to Oetker at a rate of roughly $11,000/day with escalation (after renegotiation of the rate further to delays in delivrery). • “Amethyst River”, 45,691 dwt, built in 1992 at Hashihama, double-hulled, epoxy coated, coils and IGS, sold in May to Greek purchasers for around $18-18.5 million.
The chemical carrier market in 1999 Both coastal and deep-sea transport of chemicals were severely affected by the Asian crisis of the final quarter of 1997. The negative effects of the crisis and the influx of newbuilding ships, whose construction had been spurred by Asian market optimism in 1995-1996, combined to continue to drag down the world market for chemical transport even into this year. Although freight rates were generally low over the first six months of the year, and even dipped to record levels in the beginning of 1999, since September, an increase in demand within several markets has resulted in a slight improvement of rates. Nonetheless, there are still many vessels available on the market and new orders will be at high levels through mid-2000. Over the last six months, transport volumes have improved, and this trend should be confirmed in the final quarter. In the medium term, tangible signs of improvement in the Asian and pacific nations’ economies should solidify this recent upward tendency in volumes. An increase in volumes should appear in the last months of the year with the seasonal restocking periods and the onset of winter. Newly built ships entering the market in1999 nevertheless slowed this firming up of the markets. It may be expected that the large pool of available ships will act as a deterrent to rising freight rates in the coming months. Volumes in the northern Europe market picked up slightly over the last two months of this year, following a period of decline at the beginning of the year. Although some shipowners’ vessels were idle at times, on the whole ships were kept busy during this period. Competition for spot cargo fell compared with the first six months of the year, resulting in a slight improvement of the freight rate. Very broadly, the freight rates for 3,000 tonne cargoes of easy chemicals on Rotterdam/ East Coast UK route rose from 5 to 10% compared with $11-12/tonne levels prevalent in March of this year. With regard to volumes, the trades from northern Europe to the Mediterranean were slightly improved, generating modest increases in freight rates. In the northern Europe/Mediterranean direction, freight rates for 3,000 tonne cargoes of easy chemicals rose from $25-26/tonne at the beginning of the year to $26-27/tonne at the end of September. S H I P P I N G A N D S H I P B U I L D I N G M A R K E T S 2 0 0 0 59
Page 3 and 4:
Bad and good reasons ? At the end o
Page 5 and 6:
The shipbuilding market in 1999 The
Page 7 and 8: Quarterly orders in gross tonnage (
Page 9 and 10: In contrast, most Chinese shipyards
Page 11 and 12: As an example, production costs for
Page 13 and 14: China As it was the case last year,
Page 15 and 16: 10 9.5 9 8.5 8 7.5 7 The European C
Page 17 and 18: The Asian challenge is clearly felt
Page 19 and 20: Norway Norwegian shipyards, which a
Page 21 and 22: The cruise market in 1999 1998 was
Page 23 and 24: success. Carnival tried in vain to
Page 25 and 26: European sector. Very few second-ha
Page 27 and 28: The containership market in 1999 Br
Page 29 and 30: (before absorption), Evergreen, P&O
Page 31 and 32: Teu 300,000 250,000 200,000 150,000
Page 33 and 34: 4,000-4,999 teu 17% 3,000-3,999 teu
Page 35 and 36: The reefership market in 1999 Anoth
Page 37 and 38: The spot market Compared to 1998, t
Page 39 and 40: concluded until very late. • Expo
Page 41 and 42: The dry bulk market in 1999 The pes
Page 43 and 44: 14 12 10 8 6 4 2 0 Jan 96 US$/tonne
Page 45 and 46: US$/day 15,000 13,000 11,000 9,000
Page 47 and 48: older ladies in the 15 years-old br
Page 49 and 50: The tanker market in 1999 Crude •
Page 51 and 52: 15% At the same time, youth in the
Page 53 and 54: for us just how stagnant this marke
Page 55 and 56: their specifications and their SBT
Page 57: Dwt 12,000,000 10,000,000 8,000,000
Page 61 and 62: the previous year. Deliveries for t
Page 63 and 64: There are two corollaries to this.
Page 65 and 66: The liquefied petroleum gas shippin
Page 67 and 68: We believe that further consolidati
Page 69 and 70: In this respect, the Chevron/Dynegy
Page 71 and 72: Perceptions As mentioned, the conso
Page 73 and 74: The liquefied natural gas shipping
Page 75 and 76: In Malaysia, the Japanese market wi
Page 77 and 78: The offshore market in 1999 Allow u
Page 79 and 80: The oil-drilling world also acknowl
Page 81 and 82: 35,000 30,000 25,000 20,000 15,000
Page 83 and 84: The fishing vessel market in 1999 D
Page 85 and 86: 45,000 40,000 35,000 30,000 25,000
Page 87 and 88: The marine insurance markets in 199
Page 89 and 90: of future resources in order to mee
Page 91 and 92: French shipyards deliveries and ord
Page 93 and 94: Chantiers Piriou • Ships delivere
Page 95 and 96: French orders to foreign shipyards
Page 97 and 98: • Samsung (South Korea) FDS 2000
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French orders to foreign shipyards

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