Hellenic Shipping News - 24.09.2010
With dry bulk rates posting yet more losses this week, on weak market activity for iron ore, ship owners appear to refrain from making any decisions on placing more newbuilding orders for dry bulk vessels. Still, this shouldn’t be the way to go, as the volatility of the dry bulk market is so fierce, that no real strategic decisions should be based on it. Instead, owners should focus on getting more for their money , looking at newbuilding price patterns and the overall prospects of the market, in terms of cargo demand, in comparison with the current flurry of newbuilding vessels delivered.
According to a latest report from Fearnley’s 20 ships were ordered during the past week. “A relatively large share comes from French owner, Jaccar Holding, who ordered 8 ethylene carriers at Sinopacific in China. On the tanker side, Frontline, reported to have added one more VLCC at Jinhaiwan. Frontline have now 5 ships on order at the same yard. The total order intake remains stable, hence prices remain at last week levels” said Fearnley’s. Just for reasons of comparison, last week proved to be rather active in the newbuilding front, with shipbroker Golden Destiny reporting 50 vessels ordered, equalling a total deadweight around 1,868,755 tons, while at similar week of 2009 only 2 orders have been reported in the offshore sector. In terms of reported number of transactions, the bulk carrier sector domains in the newbulidng business holding around a 52% share of the market with kamsarmax being the most popular vessel type.
This is an extract from http://www.balkans.com/open-news.php?uniquenumber=72009
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