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The
Asian shipping industry remains in a testing
economic environment, according to the Asian
Shipowners’ Forum (ASF) economics review
committee.
Dry bulk shipping is deemed to be moving in a
harsh business climate due to delays in the
recovery of cargo movements to developed
countries and the concentration of new vessel
deliveries in the second half of the year.
“But, it is also recognised that the number of
new building orders to be cancelled which could
reach as many as 1,000 vessels, is now turning
to reality and the market will be encouraged by
the active scrapping of more than 500 ships
since September 2008,” it said in a statement.
On the tanker sector, the ASF said although some
100 single-hull tankers would be withdrawn from
the market this year until the end of 2010, it
was also anticipated that more than 60 vessels
of very large crude carriers would flood the
market this year.
“We share the concern that the current tanker
market condition showing surplus tonnage would
remain for the time being,” it said.
On liner or container shipping, ASF said the
effects of the financial tsunami had clearly
extended to the trans Pacific and intra-Asia
trades.
“The CEOs of Asian container lines companies are
urged to handle the situation in a rational and
patient manner to ensure the sustainable
operation of the liner business in these trades
and to keep customers well-informed of the
difficult situation faced by carriers,” it said.
The ASF is a voluntary organisation of the
shipowner associations of Australia, China,
Taiwan, Hong Kong, India, Japan, South Korea and
the Federation of Asean Shipowners’
Associations.
Source: The Star
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