The race for container vessels and LNG/LPG carriers left little space available for tankers and bulkers. As a result, the volume of new orders for tankers and bulkers showed a decrease of respectively 30 and 15 pc compared to 2004. An interesting observation is that for tankers and bulkers combined, the new order volume was evenly spread on Japan, Korea and China. For Korea, however, the bulker volume represented only 6 percent, versus 60 pc for Japan and 50 pc for China. Tanker prices remained fairly stable throughout the year, except for MR prod and VLCC, where we recorded a 9 pc increase, (y/o/y end). In the middle of the year, however VLCC was up 22 pc and MR 13 pc compared to start of the year.
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