A South Korea-based financing firm has released a gloomy report in which the company said that newbuild orders placed in 2009 would most likely hit the lowest level since 2003.
Hi Investment & Securities said that reduced volume of commercial shipping would have a negative impact on shipbuilding orders in 2009. The report said that bulkers would suffer the most due to the large number of orders made in the past two years. According to the report, there are 833 capesize units in the world wide orderbook while 768 such vessels were in operation as of late October. Orders for LNG tankers on the other hand are set to increase since major LNG development projects which were previously delayed would resume. In 2008, only five LNG tankers were ordered. The decline in oil prices would also affect the offshore plant market and orders for offshore vessels such as drillships and FPSOs would start to drop off as well.
Read More
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment