ECONOMY

Prices of new ships expected to advance

prices-of-new-ships-expected-to-advance

New ship orders around the world are on the increase, albeit at a slow rate as shipowners remain cautious, VesselsValue reports, but the outlook seems to favor a rise in new order prices in shipping, a global industry where Greek owners hold a commanding position.

The shipping monitoring company notes that “while the sentiment is positive and ship prices are seen moving upwards in the forecast, near-term uncertainties are likely to have investors taking a more cautious stance on ordering. Though the total orderbook for vessels has picked up from its bottom in 2017, it is still at levels giving the shipyard industry cause for concern, leaving investors and shipowners with the upper hand in newbuilding price negotiations.”