DVB: Shipyards deflating the shipping economy
Even though some of the Asian and, especially, South Korean shipyards are cutting costs, production capacity available at yards in Asia represents a fundamental challenge for the economy in the shipping sector, with an equilibrium being far off, DVB tells ShippingWatch.
Virtually all shipyards in China should be shut down in order to create a price level for newbuildings which does not undermine the value of the ships and thus, ultimately, the economy tied to the value of the fleet.
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