Newbuilding prices from shipyards in China and other places in Asia could plunge to 2002-levels as yards run out of orders. The development is in progress this year and will continue in 2014, writes Danish Ship Finance in its biannual analysis, Shipping Market Review.
"Small and medium-sized privately-owned Chinese yards appear to be at the epicentre of the capacity adjustment process. We estimate that by the end of 2014 global yard capacity could be back at the 2008 level…Given the current market situation, it is critical to consider whether the 2002 low represents the potential downside risk for current newbuilding prices: despite the gloomy outlook, we are inclined to believe that this will not be the case,” reveals the analysis from Danish Ship Finance.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Leak: EU to build wide-scale fuel network as alternative to Russian gas
Seeking independence from Russian gas, the EU will increase availability of sustainable hydrogen with up to 20 million tonnes before 2030, according to drafts seen by ShippingWatch. The EU Commission wants investments in three specific import corridors.
Ane Uggla calls for policymakers to act on CO2 emissions
Ane Uggla, chair of the A.P. Moller Foundation, which is behind the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, calls for political action regarding CO2 emissions a few weeks before the next meeting in the IMO’s climate committee, MEPC.
Norden upgrades again – expects profit approaching USD 420m
Few weeks after presenting its Q1 financials, shipping company Norden once again raises its guidance for 2022.
Central EU committee approves carbon quotas for shipping
ENVI, the European Parliament’s environmental committee, has approved a proposed compromise on CO2 quotas for shipping. The proposal is to be used in legislative negotations with EU nations in the Council of Ministers.
CMA CGM to buy stake in Air France-KLM – enters strategic partnership
French carrier CMA CGM is set to acquire up to 9% of Air France-KLM, with the companies forming a partnership on air freight that will initially run for ten years.
Team Manager 
Marine Superintendent 
Operations Manager 
Senior Shipbroker