Despite fleet over-supply, post-panamax containerships appears to see a continued orders.
According to shipbroker Braemar Seascope, during the first quarter of 2013, overall around 30 large containerships of a combined 270,000 teu were ordered, which expanded by six times against a year ago.
Orders for ultra-large boxship are placed successively; early this year, Canadian shipowner, Seaspan booked five 14,000-teu and four 10,000-teu at Hyundai Heavy Industries of Korea and China’s Yangzijiang Shipbuilding, respectively. K Line of Japan also ordered five 14,000-teu boxships at Imabari Shipbuilding and so on.
Behind this new order spree for large vessels, it is attributable to not only attractive ship prices but also the ‘great economic effect’ expected from large vessels.
Braemar said that more than 70% of new order intakes in Q1 were particularly for large vessels of post-panamax that owners are proceeding with a fleet renewal program to secure vessels with higher fuel-efficiency.
Especially, newbuilding prices are still on the decrease following last year, having fallen by additional 10-15% annually in 2012. Shipbuilders seem to have succeeded in marketing for high efficiency and eco-friendly vessels amid historically low ship prices.
Investment in newbuildings is still steadily growing as a total of around 30 vessels, 25 ships and 20 vessels were ordered each in the second, third and fourth quarter of last year while industry source shows a concern over a possibility of aggravating tonnage over-supply problem.
Source: http://www.asiasis.com
