S&P and Newbuilding Weekly 03 July 2026

The newbuilding market shows early signs of moderation amid an active product tanker sector, with increasing long-term contracts supporting new orders. Notably, Hengli Shipbuilding's rapid growth continues, boasting 388 vessels on order and 207 ordered this year alone, raising its output from 285,000 DWT in 2024 to an anticipated 10.8 Mn DWT for 2026, thus positioning it distinctly as a leader in the market. Meanwhile, second-hand tanker activity remains subdued with steady asset values reflecting broader market uncertainties. Conversely, the dry bulk segment displays resilience with healthy transaction volumes across various asset classes, notably in the Kamsarmax and Handysize segments, underscoring sustained buying interest despite ongoing geopolitical tensions affecting overall sentiment.