It is estimated that global cargo ship newbuilding market is to warm up by 2013 and the new orders is projected to go upward.
Analyst Jeon Jae-Chun from Daishin Securities said that global new orders were likely to see recovery by the first half of 2013. According to Jae-Chun, alleviated ship financing intension and ship overcapacity as well as the extension of Panama Canal are all positive factors for the newbuilding market.
The new order fever for mega ships in the first half of last year has gradually cooled down till now. Since this June, apart from orders separately secured by Hanjin and STX for the construction of ten 5,100TEU containerships, no other order for big boxships were placed.
However, boxships orders are likely to increase substantially by 2013. It is estimated new containers ships of 1.5m TEU are to be ordered in 2013, worth about $13.5billion.