Shanghai: Despite – or maybe because of – a raft of orders of late from Chinese state-run shipping lines, newbuilding prices in China have been falling for the past weeks.
The China Newbuilding Price Index (CNPI), since hitting a peak of 960 points in late May after more than a year of uptrending, has now fallen back to 950 points. The CNPI is published every two weeks and covers bulkers, tankers and containerships. The only sector to register a small price increase was tankers.
A flattening of newbuild prices comes as the mood for shipping in general becomes darker.
Shipping accountants Moore Stephens last month reported a fall in shipping confidence between May and August in a regular poll it condicts, with few expecting new investment or improvements in bulk and box freight rates over the next 12 months. [07/10/14]