Bleak prospects: Asset values headed for new dive
Ships' average earnings have now reached 2002 levels. Yet second-hand prices are still an average 30-40 percent higher than 12 years ago, says Danish Ship Finance in a bleak shipping prognosis.
BY OLE ANDERSEN
Even though ship asset values plummeted during the crisis, forcing many carriers to perform massive impairments on their fleets, the coming years could prove to be equally horrifying in several segments, including dry bulk and product tanker.
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