Newbuilding Market Slowing Down as Holiday Season Nears
Newbuilding ordering activity has taken a back seat, as the Holiday Season approaches. In its latest weekly report, Allied Shipbroking said that “an anticipated slow-down was witnessed in the newbuilding market as we are approach the end of the year, with most buying appetite seemingly rescheduled for 2021. In the dry bulk market, the overall positive momentum in the freight market noted over the last couple of months has improved sentiment and revived interest. The number of projects being completed though in the year so far is anything but impressive. It is estimated that about 100 units have been ordered in 2020 so far, a far cry for their respective figure in 2019, with resilient newbuilding prices trimming appetite. In the tanker market, the low freight earnings and the poor sentiment has caused a decline in interest as of late. However, the softening noted in newbuilding prices has helped curb some of these concerns, es