ContainersDry CargoOperations

Splash Extra: Secondhand prices soar

Soaring secondhand ship prices, rapidly narrowing the gap with newbuilds, forms the lead article in the March issue of Splash Extra, which launches today.

Secondhand tonnage began to appreciate in price from October last year, but over the past month prices have leapt, triggering pre-global financial crisis memories where five-year-old tonnage regularly traded hands for prices in excess of newbuild orders.

The secondhand index could potentially surpass the newbuild index

“I think it’s entirely possible for this spread between newbuilds and secondhand ships to continue to narrow, with the secondhand index even potentially surpassing the newbuild index,” commented Jonathan Chappell, a shipping analyst with Evercore ISI.

Splash Extra assesses which asset types have appreciated the most so far this year and looks at the potential for which segments will produce the biggest gains in the months ahead.

Elsewhere in the subscription title, the grounding of the Ever Given hogs much of the limelight while this month’s special feature assesses what the impending Energy Efficiency Existing Ship Index (EEXI) regulations mean for the global merchant fleet, looking at the far reaching new rules from a both a compliance point of view as well as the potential impact on freight rates.

“This may lead to an increasing delta in time charter rates, as charterers will probably consider the potential flexibility to speed up as important,” commented Burak Cetinok, head of research at Arrow Group, on the likely ramifications of the new environmental rules.

Priced for as little as $200 a year, Splash Extra serves as a concise monthly snapshot, ensuring readers are on top of where the shipping markets are headed.

For more details on Splash Extra subscriptions, click here.


Splash is Asia Shipping Media’s flagship title offering timely, informed and global news from the maritime industry 24/7.
Back to top button