Japanese yards aim to take prices to new highs as steel prices surge again

Japanese shipbuilders are looking to push newbuilding prices to new highs over the summer as they face significant cost increases.

Reports in Japan suggest bulk carrier builders will seek to achieve prices as high as $40m for a 64,000-dwt ultramax vessel and $35m for a 35,000-dwt handysize.

By comparison, China Merchants Bank Financial Leasing recently concluded a deal for a series of four 63,000-dwt bulk carriers at New Dayang Shipbuilding at a price of $32.5m