S&P and Newbuilding Weekly 21 August 2026

Newbuilding activity remains stable but subdued as European stakeholders enjoy their summer break, while Korean yards commence operations following holidays, putting pressure on pricing dynamics. The Korean shipyards' advantage in delivery slots faces competition from Chinese yards, which are increasing prices and capturing medium-size shipping sectors. Meanwhile, the tanker and bulker markets are poised for recovery in Q4, with notable sales activity in the second-hand market despite overall limited transaction volume, highlighted by a VLCC sold for USD 57 million and Capesize tonnage commanding solid values at USD 38.5 million. Amid these developments, cash-rich buyers remain cautious, impacting overall newbuilding commitments, and geopolitical factors may provide temporary support to the Korean yards amid competition from Chinese shipbuilders.