Maritime Industry Briefing: Dry Bulk Newbuilding Bet, Record Car Carrier Auction, and Houthi Blockade Rattles Red Sea Trade

## Evalend Shipping Doubles Down on Dry Bulk with Newcastlemax Series Greek shipowner Evalend Shipping has been confirmed as the buyer behind a significant newbuilding order at China's Dajin Heavy Industry, according to Splash247. The deal covers a series of three newcastlemax vessels with an option for a fourth, representing a total commitment of up to $310m. The yard had initially disclosed only that the counterparty was a Greek owner with existing interests in the tanker and gas carrier sectors, with shipbroking and market sources subsequently identifying Evalend as the buyer. The order signals a strategic expansion into large-scale dry bulk tonnage for the Greek group and reflects continued owner confidence in the long-term demand outlook for capesize-class vessels, particularly as iron ore and coal trade volumes remain robust. --- ## 26-Year-Old Car Carrier Sells for $42m at Auction — Three Times Its Reserve Price A 2000-built pure car and truck carrier (PCTC) has achieved a strikingly high price at auction, underscoring the sustained strength of the secondhand vehicle carrier market. The 4,310 ceu *Chang Sheng Hong* sold on Tuesday for approximately $42m via the Shanghai United Assets and Equity Exchange, according to Splash247 sources — nearly three times the vessel's reserve price of RMB 95m (around $14m). For a 26-year-old midsize PCTC, the result is considered exceptional and reflects the acute shortage of car carrier capacity globally, driven by surging automotive export volumes, particularly from China. The sale highlights how asset values in the PCTC segment remain elevated well beyond what age-based depreciation models would traditionally suggest. --- ## Houthi Naval Blockade on Saudi Arabia Disrupts Red Sea Oil Flows Yemen's Houthi forces have declared a naval blockade on Saudi Arabia, triggering immediate disruptions to tanker movements in the Red Sea, Splash247 reports. Multiple tankers carrying Saudi crude, as well as at least one Chinese car carrier, turned back within the past 24 hours after the blockade declaration. The development is particularly significant because the Red Sea route had become a critical fallback export corridor for Saudi Arabia following heightened tensions in the Strait of Hormuz, which had made that passage increasingly hazardous. With both key export routes now under threat simultaneously, the so-called 'oil pincer' facing the kingdom is tightening considerably. Shipping markets will be closely monitoring how the situation evolves, as any sustained disruption to Saudi crude exports would have material implications for global tanker routing, freight rates, and energy supply chains.