S&P and Newbuilding Weekly 28 August 2026

The newbuilding market remains robust as owners capitalize on strong freight rates, with multiple contracts reported, including Torm's eight MR orders valued at USD 370 million. Chinese shipyards, led by Hengli, set an all-time half-year record with 207 vessels ordered in 1H 2026, prompting continued investments across segments from tankers to car carriers. The geopolitical climate adds layers of complexity, with tensions in the Strait of Hormuz and ongoing economic sanctions on Iran impacting shipping routes and operations. As the operational landscape shifts, particularly due to climatic disruptions influenced by El Niño affecting canal traffic, the market is poised for increased activity this autumn as owners look to fleet renewals and capitalize on high earnings driven by these pressures.