S&P and Newbuilding Weekly 23 October 2026

The newbuilding market continues to thrive in a challenging geopolitical landscape, with increased orders pushing prices upward, particularly for tankers and bulkers. Chinese VLCC prices have risen to USD 130 million, while Handies, Ultras, and Kamsars are up by USD 0.5 million. The newbuilding premiums have moderated, with MR NBs priced at 0.9 per cent above second-hand vessels. Notable transactions this week include the sale of MV 'CAPE ALLIANCE' at USD 35.5 million, indicating robust demand across the dry bulk sector. However, geopolitical uncertainties, particularly surrounding the Ukraine war and Middle Eastern tensions, are impacting tanker S&P activity, leading to cautious market sentiment. While the tanker asset values remain resilient, the outlook is clouded by potential sanction relaxations that could alter trading dynamics significantly.