Thursday, May 7, 2009

What percentage of new dry bulk ships will be cancelled?

I think the figure will come close to 50%, although some say 10%, others say 30%

DNV has forecast that 30% of bulk carrier and container orders, and 10% of tanker newbuldings will not be built.

Apparently the Chinese are intent on building these ships, even if they have to finance their sale to new owners. Unless the world wide economy really picks up, this could spell trouble for the entire industry. It would mean continued excess capacity, keeping rates down.

This from Lloyds List

Shipping executives who have recently visited yards in China, where half the world’s bulk carriers are on order, reported that yards were keen to build ships, and open to requests for delivery deferrals, also offering to renegotiate prices based on any cost savings.

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