At least 45 of the largest dry-bulk vessels were re-sold in 2012 while being built at shipyards because delays led to cancellations or the original orderer defaulted on the contract, RS Platou Economic Research said.
Most of the re-sales of Capesize- or Panamax-sized ships, used to transport coal, iron ore and grains, were from Chinese shipyards, according to the Oslo-based research unit of Norway’s biggest shipbroker. The sales contributed to a doubling in the number of such vessels sold in 2012 compared with the prior year, RS Platou said, without providing a figure.
Values for re-sold vessels dropped 15 to 20 percent over the year, with discounts partly attributed to some shipyards’ older or poorer designs, Platou said.
– Michelle Wiese Bockmann, Copyright 2013 Bloomberg.
Join the 67,769 members that receive our newsletter.
Have a news tip? Let us know.
Bollinger Shipyards announced today it has acquired the shipyard facilities of Gulf Island Fabrication (NASDAQ:GIFI). Lockport, Lousianna-based Bollinger Shipyards is a leading privately-held designer and builder of steel military and...
Crowley Engineering Services has released the design details for the first fully-electric tugboat with autonomous capability for the U.S. market. Crowley is promoting the design as a sustainable and high-performing...
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
