Market still needs at least one another year until asset prices and rates of product carrier recover.
DVB warned "Recovery in asset values is not likely to happen during the next 12 to 18 months."
According to the bank, 334 vessels of a combined 15.2 million dwt remain on order, equal to 14% of the sector’s trading fleet.
45 newbuildings, only 32% of the schedule, have been delivered year-to-date.
DVB said, “The relentless pace of vessel deliveries is likely to continue in 2013 as another 133 vessels of 6.4 million dwt are scheduled to enter the fleet during the year.
Published : September 6, 2012
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