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Maritime News

Newbuilding market on Holiday mode

The newbuilding ordering part of the shipping market has slowed down over the past few days, as the Holiday season nears. In its latest weekly report, shipbroker Allied Shipbroking noted that “with the holiday mood now taking hold of the market day by day, things have considerably loosened up this past week in terms of new orders. After a couple of weeks where activity was bolstered with a plethora of new orders being placed, the orderbook seems to be now set, more or less, in stone for the year, with many investors already thinking ahead for their future investment planning and looking to their options for 2018. Notwithstanding, even if the number of new orders coming to light was limited at this point, we noticed many options being declared both in the Dry Bulk and Tanker sectors, increasing at the same time the total number of firm orders that have been placed within the year. Seeing this closing of positions in respect to prior order deals, the expectations is for fresh activity to climb even further during the 1Q of 2018. Altogether the newbuilding market is most probably set to be in a sluggish mode during the upcoming weeks, but the positive sentiment in the market can change things around relative fast”, the shipbroker said.

 

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