SINGAPORE: Instead of buying ships from others, shipping companies are increasingly expanding their fleet by adding new ships straight from the yards. This development is primarily due to the fact that the prices have not followed the declining market, a unanimous panel stated during a discussion at Asia’s biggest shipping conference Sea Asia 2013 on Tuesday:
“New ships are cheaper than those on the second-hand market. This makes some companies order new ships instead,” said Mikael Skov, CEO and co-founder of Tankers Inc., which specializes in transportation of oil and oil products.
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