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Shipowning managers eye new ships

Seoul - Three out of 10 shipowning company managers said they are likely to order new ships within the next 12 months, according to an industry report, in a sign that the maritime sector sees light at the end of the tunnel. SMM said in a report posted on its website on Nov. 29 that there are signs of hope

Seul - Three out of 10 shipowning company managers said they are likely to order new ships within the next 12 months, according to an industry report, in a sign that the maritime sector sees light at the end of the tunnel.

SMM, the leading international maritime trade fair that takes place in Hamburg every two years, said in a report posted on its website on Nov. 29 that there are signs of hope even among shipowners, with some players clearly viewing the growth prospects as positive. This is an indication of more willingness to invest.

The SMM Maritime Industry Report, prepared jointly by Hamburg Messe & Congress GmbH as the organizer of SMM, and the market research institute mindline, said, “Twenty percent of senior responding decision-makers consider it as ‘very likely,’ and an additional 12 per cent as ‘likely’ that they will order new ships within the next 12 months.” “This is especially surprising considering the fact that this value is far above the typical fleet rejuvenation rate,” Max Johns, managing director of the German Shipowners Association VDR, said in comments posted on the website of SMM.

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