In International Shipping News 10/10/2016
The price of mega big container vessels rebounded slightly after a two-year slump, delivering much-awaited relief to Korean shipbuilders in unprecedentedly lengthy drought in orders. But some market analysts remained cautious about whether the trend can persist.
According to Clarkson Research Services, a British maritime researcher, on Thursday, the price of huge container ships with a capacity of 18,500 TEUs to 19,000 TEUs rose by $500,000 to $145.5 million in September from a month ago. Container ships of 16,000 TEUs to 16,500 TEUs also rose by $500,000 to $127 million.
The price of very large container ships rebounded for the first time since the related data started to be compiled in December 2014. Since Clarkson Research collects data from ship owners and brokers, the rebound suggests there are more ship owners who see the price would no longer decline.
Others say, however, the rebound has no significance in a situation where new orders remain scarce.
The price of LNG tankers and very large crude carriers (VLCC), key areas Korean shipbuilders focus on, fell by $500,000 to $1 million over the same period. “There are many factors that affect the vessel price and they include economic condition, currency and raw material price. The rebound in price statistics won’t likely be of any significance,” said Lee Gang-rok, an analyst at Kyobo Securities.
Source: Pulse
