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Ship Building is Bullish in Far East
Pacific Basin keen to add to fleet
Hong Kong: Pacific Basin is readying to order more newbuilds. The Hong Kong-listed entity has already bought nine bulkers this year, and still believes prices are attractive to buy more.
In its third quarter trading update, the company said last week: “Our current acquisition focus is on newbuildings in view of the negligible price differential between newbuildings and modern second-hand vessels, and due to the opportunity this affords us to renew our fleet with improved ship designs.” [01/11/10]
In its third quarter trading update, the company said last week: “Our current acquisition focus is on newbuildings in view of the negligible price differential between newbuildings and modern second-hand vessels, and due to the opportunity this affords us to renew our fleet with improved ship designs.” [01/11/10]
This will become my top performing counter for this year. 
Price differential favours Chinese yards over Koreans: Clarkson
London: Chinese shipyards continue to dominate the newbuilding market - and with a now significant pricing spread having been established between Korea and China - this dynamic looks unlikely to waver for the remainder of this year said a Clarksons report this week. “This is not to say that Korea has become dormant by any means - and we are now seeing the Korean yards pushing the box ship story quite aggressively, with consistent reports of both fresh enquiry and new business being concluded. With the broader model of the containership sector now evolving against the collapse of the KG's - we may well see some further orders placed on a more speculative basis before the year end, with owners that had traditionally veered away from box ships now becoming increasingly interested against strong potential for further trade growth and increased demand” said the report. [29/10/10]
Cosco will not disappoint me....