Locking in Chinese shipyards! Turkish shipowner places first container ship order in 4 years

Turkish shipping giant Ciner returns to the container ship market, placing an order with New Ocean Shipbuilding for 2 container ships of 3100 TEU.

It is reported that these two new ships will use traditional fuel, suitable for regional and intra-Asian trade, with delivery scheduled for the end of 2027. The estimated cost per ship is about 44 million USD, with a total transaction amount of approximately 88 million USD (about 627 million RMB).

For reference, Clarkson's data shows that the current newbuilding price for a 2600/2900 TEU container ship is about 45 million USD, a slight increase compared to 42 million USD in the same period last year.

This order marks Ciner's return to the container ship sector after 4 years. The company previously operated a diversified fleet including bulk carriers, oil tankers, and container ships, owning 4 container ships of 9030 TEU built between 2015 and 2016, which were long-term chartered to South Korea's Hanjin Shipping. After Hanjin Shipping's bankruptcy, Ciner packaged and sold these 4 ships in 2021, officially exiting the container shipping business.

Currently, Ciner's fleet consists entirely of bulk carriers. In recent years, the company has been expanding its bulk carrier fleet by ordering new ships from Chinese shipyards. According to Clarkson's data, Ciner currently has 13 newbuilds under construction, including 6 Ultramax bulk carriers of 64,100 DWT built by New Ocean Shipbuilding, 3 open hatch bulk carriers of 40,500 DWT built by Jiangmen Nanyang Shipbuilding, and 4 Kamsarmax bulk carriers of 82,000 DWT built by Hengli Heavy Industry.

New Ocean Shipbuilding is one of Ciner's most favored shipyards in China. As early as 2012, Ciner ordered 7 Crown 63 series bulk carriers (version 1.0) from the predecessor of New Ocean Shipbuilding, Dayang Shipbuilding. After New Ocean Shipbuilding was established, Ciner renewed an order in September 2021 for 4 Crown 63 PLUS bulk carriers (version 3.0), and in 2024 ordered 6 more Crown 63 PLUS bulk carriers.

Ciner's order is the third container ship order New Ocean Shipbuilding has received this year. In May this year, New Ocean Shipbuilding won the contract to build 2 feeder container ships of 1100 TEU for Minsheng Shipping, marking its first container ship contract in 4 years; in August, New Ocean Shipbuilding secured an order from Greek owner Chartworld Shipping for 2+2 container ships of 3100 TEU.

It is understood that New Ocean Shipbuilding has been known for building bulk carriers. In 2021, it received orders from Singapore owner X-Press Feeders for 4 methanol dual-fuel feeder ships of 1170 TEU and from Sinfeng Shipping for 4 conventional-powered ships of 4500 TEU. All 8 new ships have been delivered and are in operation. Since these orders, New Ocean Shipbuilding has not built any container ships.

In recent years, New Ocean Shipbuilding has consistently adhered to a green, low-carbon, energy-saving, and environmentally friendly development strategy, continuously optimizing its product structure. At the beginning of this year, New Ocean Shipbuilding successfully entered the oil tanker market, securing its first MR-type product tanker order.

Excluding the latest orders, Clarkson's data shows that Sumec Shipbuilding and New Ocean Shipbuilding currently hold a total of 71 orders amounting to 4.29 million DWT, including 62 bulk carriers, 4 container ships, 4 oil tankers, and 1 offshore vessel, with deliveries scheduled through 2028.