Clarkson Sees Dry-Bulk Shipping Glut Extending Slump in Market
Following are market-outlook comments from Clarkson Plc (CKN), the world’s largest shipbroker, on different parts of shipping.
It commented in a financial report today.
“The market will continue to struggle with the impact of oversupply. However, planned increasing in cargo volumes and continued growth in demand is fundamental to our long-term belief in this sector.”
“Throughout the year there was an increasing focus on the fuel efficiency of new designs compared to existing designs and with the order book now down to the lowest levels since 2004 and new contracting even down to 2002 levels, there is beginning to be an increased appetite to secure positions for these modern vessels, with the main challenge being finance.”
“2013 poses challenges for the gas markets as additional vessels enter the fleet, at first outpacing the expected growth in trade. This threatens to keep rates under pressure until the expansion in export capacity from U.S. terminals starts to provide a stimulus later in the year. Focus in 2013 will be on reinforcing our existing areas of activity and capturing emerging markets in Asia and the U.S. which herald change and growth opportunities in the next few years.”
To contact the reporter on this story: Alaric Nightingale in London at email@example.com
To contact the editor responsible for this story: Alaric Nightingale at firstname.lastname@example.org