The effect of the economic Crisis on the global Shipping industry 573 views
Introduction:
World Economy crisis – effects on shippingworld: a serie of linked financial and economydownturns that are badly affecting theshipping market:-Lack of financing for new projects andnewbuilding. Results: contracts cancellations,g,delayed deliveries, higher costs – Low chartering rates – low market values:longer return on investment for new and oldships.- Lowered assets values: vessel being deliveredhtk t l th t’h lhave a current market value that’s much lessthan building contract value.Ettt d f- Excess tonnage: recent years trend of a veryspeculative ships resale and newbuildingmarket Peak of conventional ships deliveriesmarket. Peak of conventional ships deliverieswas expected in 2012. Excess of tonnage offer.
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