A low orderbook to fleet ratio for bulkers and containerships,bottomed out newbuilding prices and the rising Baltic Dry Index (BDI) have ledto an 89% year-on-year surge in orders, according to an analyst at theSingapore-based bank.
“In addition, a series of shipyard closures and/or capacitycuts in China is deemed positive as massive yard closures is often a precursorto a recovery in the industry,” DBS said in a note.
