As a new round of newbuilding ordering cycle of global major shipowners is appearing, newbuilding prices are expected to increase, albeit slowly.
Yangzijiang Shipbuilding's executive chairman Ren Yuanlin said "Now is possibly one of the best chances for shipowners to order new ships," and added new ship prices have risen by 3-5% against those from the fourth quarter of 2012.
Also, he predicted that newbuilding prices would not fall further, however, he said the prices seem less likely to make an upswing within this year but to maintain the current level.
That means newbuilding prices will struggle to rise amid a depressed bulker freight market.
Meanwhile, an official from one Korean large shipyard said the market sees growing inquiries from shipowners who seek to invest in newbuilding commercial ship market, taking advantage of low prices.