Shipping broker report 05/29/26

Industry Discussions Shipping News
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Have not commented on one of these for some weeks now.

  • 13 dry bulk vessel sales
  • 4 tanker sales (all older MR2 tankers)
  • Newbuild tanker orders (conventional) 27 firm, plus 14 options
  • Navios has a 4 + 4 VLCC order, JP Morgan has some tankers orders in place
  • 9 newbuild tanker orders including an LNG tanker and 2 LPG tanker orders from JP Morgan

Banking entity making investments in the shipping sector? It has happened in the past with mixed results. A typical shipping entity, private or public, will likely take over the vessels down the road. I mean, 2 Suezmax from Samsung? Those would be interesting assets to a number of shipping names e.g. NAT, TNK, perhaps even Fredriksen-related entities.

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While on the subject of investment banking, I was curious on the 6 + 4 VLCC newbuild order from United Ocean Group. Guess what? … a familiar name, Peter Georgiopoulos. Let’s see. tanker company General Maritime (GenMar), Genko (GNK) and gas stations- on-the-high-seas entity (Aegean Maritime Network) are all names associated with Peter. He started out at Drexel Burnham Lambert but then moved to shipping companies, and leveraged his past experience to bail out at least GenMar somewhat successfully. GenMar became Gener8 (VLCC focused) that eventually was acquired by Euronav (the tanker segment of CMB.tech). I guess, … sometimes, history repeats