Athens - Ship owners are contracting newbuilding vessels left and right over the past week, as 2018 and the Holiday Season are just a couple of weeks away. In its latest weekly report, Allied Shipbroking said that it was “another week with plenty of activity being reported in the Newbuilding market, after many weeks of high volatility and sluggish fresh interest noted. At this point, both of the main sectors driving the market, namely the Dry Bulks and Tankers showed a fairly healthy appetite in placing new orders.
It is true that the new high reached in the overall Dry Bulk freight index has helped further boost the interest for new orders, changing the mind of many who had second thoughts as to the robustness of the market from the downward correction that was noted in previous weeks.
Beyond this however, the surprising aspect to this market has been the activity which came from the Tanker side, where the state of the market with its bearish mode, would seemingly be uninspiring for many potential investors.