Monday, December 17, 2012

[Ship Building] NB market enters Recovery

NB market enters Recovery

Global merchant ship market is to recovery by replacing existing tonnages with Eco ships and Korean shipbuilders would eventually win many of new orders.

Analyst Park Mu-Hyun of E*Trade Securities in Korea said "Fuel efficiency is prioritized in S&P market, which gives direction to newbuilding market."

As for bulker secondhand trading, Japanese built bulkers are popular. He said five-year Japanese-built bulker and 10-year Chinese-built were traded at the same price last month.

Regarding Scorpio Tankers' recent orders for additional six MR tankers at Hyundai Mipo Dockyard and SPP Shipbuilding, Park said "When major shipowners start to place orders to occupy slots in advance, new orders will spread to many other shipowners."

He added with limited slots available for medium-sized vessels to be delivered in 2014, shipowners would soon fight for slots with 2015 delivery.

He emphasized "Shipbuilders should focus on improvement of commercial ship market, which has just started to recover," saying fuel efficient data seen after deliveries of eco ships attract shipowners.

Moreover, strong won would also draw shipowners to negotiating table and newbuilding prices would gradually rise in line with increasing new orders. He said "Prices have already made an upturn."

Published : December 14, 2012

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