|
Second-hand ship prices may fall as much as a
third by September as world trade slows and new
vessels enter service, according to Fearnleys
A/S.
Prices have already dropped a third since
August, Byron Fiske Harrison, a broker at the
company's Singapore unit, said today in Hong
Kong.
Shipping lines have laid up more than 1,400 bulk
and container vessels worldwide because of
slumping demand for imports of iron ore in China
and waning consumer spending in the U.S. and
Europe. Still, a surge of new ships is due for
delivery this year as yards complete orders
placed two or three years ago when the market
was booming.
Source: Bloomberg
|
