Newbuilding Crisis?

In a research note published last week, Morgan Stanley suggests that as many as $22.7bn of newbuilding dry bulk contracts could be deleted in the next three years, with delivery delays for up to 20% of the scheduled order book. “The US investment bank said around 28.9m DWT of the 407m DWT tonnage on order could eventually be cancelled, while a further 6.2m DWT of vessels due to be delivered in 2008 could be delayed, with a further 13.3m DWT for 2009 and 21.8m DWT for 2010.”

”The bank noted that in 2007, delivery delays affected 2.6m DWT, or

This is only an excerpt of Newbuilding Crisis?

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.