Newbuilding price rally is not so far away from now, an industry veteran believes.
Bernard Anne, who has recently retired from marine director at Bureau Veritas, said prices for new ships have almost reached their lowest level in recent years and could soon start to pick up.
He said shipyards are now facing increasing ship construction costs and there is little room for further price cut.
“I think we are approaching the bottom of the cycle and the start of another one,” said Mr Anne.
But Anne forecasts a gradual recovery in newbuilding prices and orders rather than a sudden boom.