Monday, November 19, 2012

[Marine] Strong Won, "Sign for Price Hike"

Strong Won, "Sign for Price Hike"

Since strong won raises foreign currency denominated newbuilding prices, shipowners will be in rush to place orders at Korean shipyards.

Analyst Park Mu-Hyun of E*Trade Securities said "Despite growing demand for Eco-design vessels, shipowners are needless to haste in investing in newbuildings. However, they have to be in a hurry before newbuilding prices to rise further under strong won."

Park said "Newbuilding prices rise after six to eight months from an appreciation of the Korean won."

He prospected "Ordering for eco-design commercial ship will increase eventually, as strong won acts as a stimulus to prices."

Also, Park predicted "When the Summer passes next year, newbuilding prices would have been risen, since limited shipyard capable of building high-end fuel-efficient vessels may not embrace newbuilding demand."


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{C}{C}Published : November 16, 2012


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