Orders few and far between as companies look to the future

摘要

Attracting newbuilding business is especially difficult at the moment thanks to overcapacity. A few vessels have been ordered in the Asia-Pacific region and in Norway but little else. Delivery dates are being pushed back, and the number of cancellations is growing, although some of the cancelled vessels are still likely to be completed for the builders' account and offered for resale. Contracts for vessels with long lead delivery times appear safe at the moment, but the companies chartering vessels are increasingly worried about rates they agreed before the oil price crash. Some charterers are hinting at renegotiation of charter rates if the crisis continues much longer.