Ship values and shipping shares forged ahead in 2013

Ship values in product tank and dry bulk increased significantly in the second half of 2013. The same thing goes for the price of shares in shipping companies, says Platou Markets.

The newbuilding rebound in - especially - dry bulk and product tank in the second half of 2013 made the prices in the second-hand market increase significantly. Dry bulk, in particular, has seen ship values grow by as much as 20-30 percent, according to analysts RS Platou Markets.

The numbers show that many shipowners are opting to look ahead in the current market, which still plagued by low freight rates, choosing to benefit from the historically low newbuilding prices. To shipowners the increasing asset values come as extremely good news following a period of massive fleet impairments, with numerous players who have had - or still have - their head under water in terms of the ships' values in the carriers' books compared to the ships' actual market value.

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