The European shipbuilding industry can expect more layoffs and a lower order book
The coronavirus crisis has been tough on the already strained shipyard industry, and in Europe this will mean more years with a low order book and more layoffs, says Kjersti Kleven, chairman of shipbuilding association Sea Europe. And yet, prices do not appear to have gone down, says Clarksons Research.
"Service is not free of charge, it has a price," says CMA CGM chief executive Rodolphe Saadé on the same day that the container liners' reliability reaches an all-time low. Hapag-Lloyd presents a new guarantee to shippers.
New gas tanker major BW Epic Kosan will especially focus on the ships of the future and the bottom line, explains Charles Maltby, who will serve as CEO of the company. The green agenda will also put a damper on consolidation in the LPG sector, he expects.
The CEO of Norway's Solstad calls on banks to take more charge of the consolidation among offshore ship operators. Without consolidation, not even rising rates will resolve the companies' woes, he says.
Transport Minister Rotimi Amaechi of Nigeria announces a three-month offensive with planes, drones and boats, in an effort to protect commercial vessels against pirates in the Gulf of Guinea. The operation will costs USD 195 million, reports Bloomberg.
Banks prefer to finance newbuilds or retrofits, said several panelists at this year's digital Marine Money conference. LNG is particularly popular among shipowners, which currently prefer to hold back on new orders.