Shipbuilders are expected to see product carrier ordering start to turn around sooner or later, and recover in earnest next year.
Analyst Choi Kwang-Sik, LIG Investment & Securities explained on February 20th that Hyundai Mipo Dockyard's share price was relatively strong last week, as new order for PCs recently resumed.
LIG's Choi was looking forward to the South Korean yard's turnaround in 2013, with estimation of around KRW 0.7trn-1.3trn of newbuilding PCs contracted for 2012.
Product carrier's orderbook to fleet ratio is below 10% and MR tanker takes the least proportion, in comparing with the other LR2, LR1 tankers.
Choi forecast that a total of 120 vessels of 6m dwt of PCs would be contracted in the world this year.