GREECE's tsakos Shipping and Trading is negotiating the conversion of orders for two 2,782-TEU containerships it ordered into suexmax tankers, according to Alphaliner analysts, reports Singapore's Splash 247.
Tsakos has eight 2,782-TEU ships under construction at Hyundai Mipo Dockyard in South Korea, and if the Greek owner succeeds in negotiating a contract switch the suezmaxes would need to be built at larger sister yards of Hyundai Mipo, such as Hyundai Samho or Hyundai Heavy Industries.
'Containership owners have become concerned about the industry's massive vessel orderbook, which will see record deliveries in 2023 and 2024,' Alphaliner noted.
'The market might well struggle to absorb all this new capacity and more and more carriers and non-operating owners have turned to the shipyards to inquire about containership order deferrals, cancellations or conversions into other ship types.'
Alphaliner suggested that smaller box tonnage could be delayed in particular as this niche will face 'increasing pressure' from vessel cascading.
Peter Sand, chief analyst at freight rate platform Xeneta, said he expects 25 per cent of the scheduled orderbook will be postponed, while no more than 10 per cent is expected to be cancelled.
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Tsakos has eight 2,782-TEU ships under construction at Hyundai Mipo Dockyard in South Korea, and if the Greek owner succeeds in negotiating a contract switch the suezmaxes would need to be built at larger sister yards of Hyundai Mipo, such as Hyundai Samho or Hyundai Heavy Industries.
'Containership owners have become concerned about the industry's massive vessel orderbook, which will see record deliveries in 2023 and 2024,' Alphaliner noted.
'The market might well struggle to absorb all this new capacity and more and more carriers and non-operating owners have turned to the shipyards to inquire about containership order deferrals, cancellations or conversions into other ship types.'
Alphaliner suggested that smaller box tonnage could be delayed in particular as this niche will face 'increasing pressure' from vessel cascading.
Peter Sand, chief analyst at freight rate platform Xeneta, said he expects 25 per cent of the scheduled orderbook will be postponed, while no more than 10 per cent is expected to be cancelled.
SeaNews Turkey
