HAMBURG: The crisis in shpping, which has now lasted at least five years, and which no one dares to really guess at when will end, has also brought some good things with it. First of all, it's a wake-up call to the present day, to the 21st Century, says Torsten Teichert, CEO of investment house Lloyds Fonds, Hamburg, which has more than 3.5 billion Euros invested in shipping. The wake-up call covers both shipbuilding, financing, and the technological aspects.
“Let me put it like this: Ship-building has gone through big changes in the last 12 years. Just six years ago a big number of ships were built at Greenfield Yards in China. Every plane or car was built in a more efficient way. During the crisis, low-quality shipyards were the first to disappear. Today we see totally new designs, fuel efficiency as an absolute must, better quality – at extremely low prices.” says Torsten Teichert, who believes that the industry is only now beginning to enter the 21st Century.