The expansion of Chinese shipyards has raised concerns that the industry could face overcapacity if another global economic crisis occurs.
But Bancosta global head of research Ralph Leszczynski is optimistic that demand for newbuildings will sustain over the next 10 years as the global fleet needs to be replaced.
“We have seen very little demolition in recent years, given strong freight markets and the use of old tankers for Russian and Iranian trades … so there is a lot of overdue fleet renewal.
