2021 Shaping Up for a Boom Year in Newbuilding Orders
Ship owners’ appetite for newbuildings seems unabated during the first few months of 2021, after the past lackluster years of relatively limited investment. An expected rebound in freight rates has also triggered more deals in the newbuilding part of the market.
In its latest weekly report, shipbroker Allied Shipbroking said that “a week with few but interesting moves took place in the dry bulk newbuilding market. The recent correction in freight rates has not trimmed expectations or appetite significantly, at least for now. The overall bullish sentiment in the sector and the positive outlook for the demand and supply fundamentals are anticipated to retain the newbuilding market at relatively active levels. However, the current “expensive” prices have been keeping things at moderate levels in the year so far, considering the encouraging earnings being noted. We expect interest to remain vivid in the coming weeks, while f