Shipping Market Review after some Business visits

Last week, I was abroad and visited some owners. The things that I learned from the owners;

Dry market is still bad and nobody sure when it will recover again. There is some hope there will be some positive developments after Chinese new year around Feb 7-20^th. They convey there is also a bit black market that some bad charterers and owners trying to reduce charter rates to damage other owners. Have heard daily rates around a thousand for some big vessels.

Container market is also question mark due to new delivered vessels. However, some container companies are already agreeing long term charter contracts for 10-15 years.

Tanker and Gas market is considerably good. However, this may not continue so long.

If everything in the market goes well, the docking schedules will be mostly in 2^nd Q and 4^th Q. Some owners may also call for 3^rd Q but not so much yet.

However, it seems that 2nd Q and 4^th Q will be very busy in all worldwide yards unless laid up process starts due to bad market.

Regarding BWT, most of the owners seems it is not useful for them and a bit reluctant to put onboard unless fully required by the authorities due to high cost and no direct contribution to the owners.

We would appreciate if you could provide as much information as possible with your or your friends’ docking, repair, newbuilding and SNP enquiries, so that we can make a detailed analysis for the year and submit you the findings.

We value your contribution to our business/studies and we look forward to working with you to pursue the many opportunities ahead.

Look forward to hearing from you.

Saygılarımla / Best regards,

Osman Kaya TURAN
Naval Architect and Marine Engineer (M.Sc.)