Even if global economy recovers, shipbuilding and shipping market will find it hard to improve.
Park Mu-Hyun, an analyst of E*Trade Securities said "There are some suggestions that recovery of global economy should be based for commercial ship market to recover. However, market will not be easily recuperated even the troubled economy gets better."
He said "Newbuilding investment is unlikely to grow, considering over-capacity and plummeted second-hand prices. Unless total volume of tonnage sharply rises, weak rates is possibly to maintain for some time."
Park emphasized that existing commercial ship will eventually be replaced with eco-friendly vessels, irrelevant to global economy.
Regarding Q3 financial records of Maersk Line of Denmark, turnover declined by 4.9% quarter-on-quarter but operating profit soared by 106%, he explained "Since Maersk has been invested in green ships from a decade ago, it has made up of its fleet with fuel-efficient vessels and is now making outstanding performance against competitors."