ShippingWatch

Yard crisis could make new tankers even cheaper

The price for a tanker newbuilding this May reached the lowest level since 2013. The problems at the Asian shipyards could push the price further down, notes Gibson Shipbrokers. However, the broker calls for tanker carriers to be cautious.

Photo: Lee Jin-man/AP/POLFOTO/arkiv

The price for a brand new tanker is already hovering at the lowest level in years, but it could be headed even further down.

In a new market report, Gibson Shipbrokers notes that the crisis at the Asian yards in particular could increase competition for the relatively few orders for newbuildings from tanker carriers.

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
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Further reading

Related articles

Latest news

See all jobs