"Historically largest wave in shipping and shipbuilding markets is coming with eco-friendly vessel."
Shipping and shipbuilding market specialized analyst Lee Sok-je insisted as such on June 27, and added, "However, there are some owners resisting recent changes, who are those who placed orders for old-type low-priced newbuildings, until lately, unable to adapt to a new trend."
Lee said, these owners are highly likely to be kicked out of the market when effectiveness of Green ships are validated. With deliveries of eco-friendly vessels, their existing older vessels or newbuildings to be delivered will see a severe drop in value and they will have lower profits by massive fuel consumption. Moreover, financial institutions will no longer be interested in them either.
Also, he advised shipyards saying, "Existing customer lists should need an examination. When fuel-efficient vessels are validated, there will be an extensive restructuring in some 10,000 owners and shipping companies around the world"
"Only around 10% of those who invested in Green ship are to survive, while the other 90% would disappear from the market."
And suggested, "Concentrate on maintaining good relationship with those who are likely to survive the turbulence."