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Order book for tankers swells but uncertainty still looms ahead
Jun 19: The order book for tankers has swelled of late but prices are expected to remain low until the end of the year.
8This is because ship builders are still not confident whether the revival can be sustained.
8The new tanker orders are attached to back to back time charter hire contracts
8So if the charter hire market becomes sluggish, new building orders are likely to ebb again.
8In terms of recently reported deals, UAE owner, Tomini Shipping, placed an order for three firm Ultramaxes (64,000 dwt) at CSI Jiangsu, in South Korea for an undisclosed price and delivery set in 2019.
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