Tim Huxley, chairman of Mandarin Shipping, one of the best known names in Hong Kong shipowning circles, has given his take on the markets for the Year of the Dragon.
Huxley was invited to speak at the Hong Kong Shipowners Association (HKSOA) annual analyst lunch yesterday in which the former Clarksons broker gave his take on the main shipping segments.
Huxley said he was “fairly optimistic” for tankers, “increasingly positive” for dry bulk, while warning container shipping had “fairly grim prospects”, particularly on the bigger ships where they are hampered by new tonnage.
Despite the negative container outlook, Huxley, who has a history of contrarian, successful ship investments, reckoned there was still a box play to be had this year.
“If I were given $100m today,” he said, “I would probably be tempted to opt for modern, efficient bulk carriers with a view to having an exit path in three to four years before the regulatory landscape becomes too burdensome. I would also look at regional container trades to take advantage of near shoring and friend shoring which will likely see an increase in intra regional trade.”
Huxley formed Mandarin with fellow former Clarksons broker Will Fairclough in 2006. Both executives will be speaking at May’s inaugural Geneva Dry summit.
Splash sister title, Maritime CEO, has also published today its own take on the shipping outlook for the Year of the Dragon, available here.
