The dismissal of new fuel saving ships, the so-called eco-designs, by many shipowners is not convincing, states the analysis firm Platou Markets. At the annual Posidonia Forum in Athens this week, a panel of shipowners discussed the new eco-designs as a possible replacement for a part of the existing fleet, and according to Platou, a widespread consensus among shipowners seems to have been reached on the subject of second hand ships, which are apparently preferable to adding to problems to a market already characterized by overcapacity.
“Instead, we got the sense that the shipowners are possibly refusing to knowledge the truth, or at least they do not want to admit publicly that it will have negative consequences for their current fleet if a two-tier market is developed. This concern has not raised even once, which is surprising considering the the high impact on residual value risk and therefore chartering behavior. We heard no convincing arguments or received any documents supporting the decision to dismiss the advantages of the new ships,” writes Platou, which emphasizes Frontline 2012, Tanker Pacific, and Scorpio Tankers as some of the few eco-shipowners, which also have access to capital and maintain healthy balances.