Irresponsible ordering again?

qinxingchen

Prospective recovery in bulker shipping market may face challenges again, with shipowners' irresponsible ship ordering. Khalid Hashim, managing director of Precious Shipping of Thailand, said, “I think 2013 will be challenging, 2014 will offer some relief, especially at the end of the year, 2015 will be smiles for owners, but 2016 will see the return of irresponsible vessel ordering again and so the cycle will continue.” Also, he took ill of shipowners who will follow each other blindly and order more ships, even though they surely know the detrimental effects of ordering spree will have on bulker market as well as freight rates. Meanwhile, the Baltic Dry Index (BDI) now stands at 922 points, having been declined from around 1,000p since early December, 2012. This compares drastically to BDIs in 2008 when they floated beyond 11,000 points. Published : April 2, 2013