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Slashing orderbook good for yards too: BIMCO

Slashing orderbook good for yards too: BIMCO

Shanghai: A reduced global orderbook is actually in the best interests of shipyards as well as owners in the long run, maintained the president designte of shipowning body, BIMCO. Robert Lorenz-Meyer, speaking at TradeWinds' Shipping China Energy conference in Shanghai, noted that 51% of the running fleet is on order at the moment, but with barely any financing in place. He warned delegates to "not expect too much help coming from the banks" and stressed there was an urgent need "to find some ways to decrease the orderbook".
"It is in the mutual interest of all," he said, "to reduce the orderbook for shipowners, banks, shipyards and their suppliers as well."
Owners are trying to renegotiate contracts at yards across east Asia at the moment, with mixed success. Only a reduced orderbook will bring around better freight rates.
Trying to inject some positive spin into his speech, Lorenz-Meyer quipped: "Don't worry, there will be another boom, you just have to survive for long enough." [27/04/09]

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