A brighter outlook may prevail in shipping markets amid upbeat sentiment over the global economy but if year of the dog predictions are correct, the tailend of the year will unleash some challenges
The total number of LNG carriers on order has fallen to 114, totalling 18.27 million m³, or 24.3% of the existing fleet in capacity terms.
Th caveat is that container freight rates have not enjoyed a recovery in the wake of continued strong demand, and further consolidation could be required to end the vicious cycles of excessive investment.
Cash-rich Greek shipowners are buying distressed German tonnage at bargain prices
Troubled shipbuilders STX Offshore & Shipbuilding and Sungdong Shipbuilding & Marine Engineering have maintained their stance on further job eliminations amid their restructuring initiatives.
Pan Ocean credited the significant improvement in the dry bulk shipping market for the higher earnings.
Cash buyers have been accumulating very large crude carriers on speculation that Pakistani yards will reopen the tanker demolition market following the fatal explosion in the country early last year.
The Dutch offshore services group has been hit by weak demand and must now come to an agreement with its creditors.
The company has revised down its outlook issued in October.
The company agreed a restructuring programme in November and the latest offering is the final part of that process.