Shipbrokers reported increased newbuilding ordering activity over the course of the past week, despite the Easter Holidays in the Western world. As it turns out, ship owners’ appetite for tankers is increasing, as prospects for the market remain quite promising. According to the latest weekly report from Allied Shipbroking, “another flurry of oil tanker contracting emerged this week, as interest continues to mount in this sector while most of the traditional ship owners look to head towards the safety of the tanker sector, finding no real reason for optimism amongst the battering conditions being seen in the dry bulk chartering market”.
The shipbroker added that “S. Korean shipbuilders have been the main beneficiaries for the most part, showing off their technical advantage in the construction of ships for this sector. With high construction quality playing a major role in these vessels, Japanese shipbuilders have not been losing out either. On the other hand, you have the difficulties of some of the Chinese yards which are inter-linked with the fate of the dry bulk market, while prospects for new contracting within 2015 are estimated to continue to be on the low end likely leading to a drying up of orderbooks for several less competitive shipbuilders and a much anticipated further consolidation of the market especially within China”, Allied said.
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27 October 2014
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