Despite the OPEC cuts having a limited negative short-term impact, there are reasons to be positive on prospects for the longer-term. Compared to other shipping sectors, the last couple of years in the tanker market have seen a distinct lack of trend. Read more . . .
Based on MSI’s latest forecasts, newbuilding prices across all sectors will continue to fall during 2017. At an aggregate level new ship deliveries will outstrip contracts and many yards will become increasingly desperate to attract new orders, at whatever price, in order to remain a going concern. Read more . . .
The actions taken by lines to consolidate services and redeliver chartered tonnage mean the worst of the downturn is over for globally competitive operators, although smaller players such as Yang Ming Marine Transport and OOCL may remain under pressure. But much of the self-help undertaken by the liner industry is piling pressure onto already beleaguered charter owners. Read more . . . (SUBSCRIPTION)
Maritime Strategies International says newbuilding prices should continue to erode in 2017, helping to press second-hand tanker and containership values further downward.
Bulker values should bottom this year but the rebound will only be slight in 2017, wrote MSI director Adam Kent in commentary provided to TradeWinds. Read more . . . (SUBSCRIPTION)