According to Robert Clancy from London-bade shipbroker Arrow, the declining momentum of bulk carrier newbuilding market is likely to continue after a temporary stop. Clancy says if the low dry bulk shipping freight rate goes on, the newbuilding price for bulkers is likely to fall again in six or nine months.
Clancy reveals that many banks have trims ship financing proportion and as a result shipowners have to seek for lower prices. The weakness of financing support and shortage of circulating funds has greatly hindered the recovery of newbuidling market.
Besides, Clancy pointed out that the current assessment for five-year Panamax bulk carriers is about $23.5m and is predicted to fall to $19.0-20.0m by the end of the year. Usually the changes in tanker market are six to nine months earlier than in bulker market. The current tanker price is said to have reached the lowest point and Clancy put forward it is better invest in tanker market in present situations.