Demand for Second Hand Bulkers Going Strong, But Newbuildings Still Subdued
he newbuilding ordering activity has remained quite subdued during the course of the past week, as holidays in China and Asia and an overall negative market sentiment, dampened investment appetite
In its latest weekly report, shipbroker Allied said that “the newbuilding market remained on a modest trajectory for yet another week, given the fair number of projects coming to light as of late. For the dry bulk sector, the bearish start at the beginning of the year has seemingly faded away, with activity having taken robust steps forward during the last couple of weeks or so. However, thinking about the current freight market momentum, coupled by the strong newbuilding asset price levels, we can expect steep fluctuations in both volume and buying appetite in the upcoming period. For the tanker sector, it was a rather disappointing week, given the uninspiring activity levels taking place. The current earning’s flat mode can hardly support an excessive boost in new ordering at this point. In other sectors, the containership market posted once again a solid presence, underlying its huge influence to the overall newbuilding market’s prevailing orbit”.