Carriers

Schulte holds off ordering new ships as prices soar

As fleets get older, ships need replacing, but Schulte Group bides it time as prices on newbuilds are out of touch with profit levels, says chief executive.
"Newbuilding prices are extremely high, second hand prices are high too, so I think they don’t really justify the current earnings except for tankers," says Schulte Group CEO Ian Beverdige. | Photo: Schulte Group
"Newbuilding prices are extremely high, second hand prices are high too, so I think they don’t really justify the current earnings except for tankers," says Schulte Group CEO Ian Beverdige. | Photo: Schulte Group
by JENS THOMSEN

For one of Germany’s major shipowners, Schulte Group, commissioning newbuilds have become a finanial dilemma.

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