What new boom in vessel sales means to shipping stocks
When you’re paying seven figures for a ship, you want to inspect it before sealing the deal. You want to make sure you can actually get the old crew off and your own crew on. COVID threw a monkey wrench into all that. Not surprisingly, shipping sale-and-purchase (S&P) activity slowed to a crawl for several months last year.
That lull is long gone.
S&P activity is now booming across multiple sectors, which should be a plus for shipping stocks. Higher secondhand ship demand should equate to higher asset values, which should theoretically equate to higher share prices.