Marine Log - June 2008 - (Page 38) ICE CLASS TANKERS Newbuilding prices have been soaring money moving it. That means they will keep on building ships until they inflict overcapacity on themselves and wonder what happened. So much for amateur shipping economics. What do the professionals have to say? One of the most respected of them is Dr. Martin Stopford, Managing Director, Clarkson Research. Speaking at a May press conference setting the stage for this year’s SMM event in Hamburg, Germany, Stopford noted that in the last three years shipyards have experienced spectacular market conditions. Contracting jumped from 93 million dwt in 2005 to 172 million dwt in 2006 to 245.5 million dwt in 2007. Ships have never been ordered in such volume before and on April 2008 the order book reached 527 million dwt representing 47% of the fleet and 6.6 years’ work at 2007 output levels. PRICES HIT NEW HIGHS New ship prices increased by 9% in 2007 and the Clarkson price index is now 185. Currently, said Stopford, a VLCC costs $154.5 million (up from $125 million in 2006) and a newbuilding Capesize $95.5 million (up from $63.5 million in 2006). Currency movements have taken their toll, particularly in China where the RMB has strengthened by 11% in the last year. Domestic inflation and labor costs are also worries for the Chinese shipyards. Contracting totaled $233 billion in 2007, but Stopford says that the pace has slowed sharply in 2008, with only $35 billion worth of orders placed up to May 1. (That may seem hard to Source: Clarkson’s Research by shipbuilding’s earlier lean years. But if there’s a one word answer to what has happened since 2002, it has to be “Globalization.” Put simply, more stuff is moving by sea—and shipping capacity is still sufficiently tight that shipowners are making 38 MARINE LOG JUNE 2008 YEARBOOK www.marinelog.com http://www.beierradio.com http://www.beierradio.com http://www.marinelog.com
Table of Contents Feed for the Digital Edition of Marine Log - June 2008 Marine Log - June 2008 Contents Editorial Second Thoughts Update Inside Washington Innovation Needed to Meet Crew Shortage Optimism Abounds Despite Slowing Economy Can Shipping's Shopaholics Keep Up the Buying Binge? Can Congress Keep Navy Shipbuilding Off the Rocks? Fitting the Ultra-deepwater Pieces Together Generation Next Higher Demand, Higher Prices Demand Up For Large Combination Vessels The Dirty Truth About Emissions SSAS: Realizing Its Potential Fuel Saving Technology Newsmakers Tech News Contracts Events Buyer's Guide Website Directory ML Marketplace Tech Talk Marine Log - June 2008 Marine Log - June 2008 - (Page Intro) Marine Log - June 2008 - Marine Log - June 2008 (Page Cover1) Marine Log - June 2008 - Marine Log - June 2008 (Page Cover2) Marine Log - June 2008 - Contents (Page 1) Marine Log - June 2008 - Editorial (Page 2) Marine Log - June 2008 - Editorial (Page 3) Marine Log - June 2008 - Second Thoughts (Page 4) Marine Log - June 2008 - Second Thoughts (Page 5) Marine Log - June 2008 - Second Thoughts (Page 6) Marine Log - June 2008 - Update (Page 7) Marine Log - June 2008 - Update (Page 8) Marine Log - June 2008 - Update (Page 9) Marine Log - June 2008 - Update (Page 10) Marine Log - June 2008 - Update (Page 11) Marine Log - June 2008 - Update (Page 12) Marine Log - June 2008 - Update (Page 13) Marine Log - June 2008 - Update (Page 14) Marine Log - June 2008 - Update (Page 15) Marine Log - June 2008 - Update (Page 16) Marine Log - June 2008 - Update (Page 17) Marine Log - June 2008 - Update (Page 18) Marine Log - June 2008 - Update (Page 19) Marine Log - June 2008 - Inside Washington (Page 20) Marine Log - June 2008 - Inside Washington (Page 21) Marine Log - June 2008 - Inside Washington (Page 22) Marine Log - June 2008 - Innovation Needed to Meet Crew Shortage (Page 23) Marine Log - June 2008 - Innovation Needed to Meet Crew Shortage (Page 24) Marine Log - June 2008 - Innovation Needed to Meet Crew Shortage (Page 25) Marine Log - June 2008 - Innovation Needed to Meet Crew Shortage (Page 26) Marine Log - June 2008 - Innovation Needed to Meet Crew Shortage (Page 27) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 28) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 29) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 30) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 31) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 32) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 33) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 34) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 35) Marine Log - June 2008 - Optimism Abounds Despite Slowing Economy (Page 36) Marine Log - June 2008 - Can Shipping's Shopaholics Keep Up the Buying Binge? (Page 37) Marine Log - June 2008 - Can Shipping's Shopaholics Keep Up the Buying Binge? (Page 38) Marine Log - June 2008 - Can Shipping's Shopaholics Keep Up the Buying Binge? (Page 39) Marine Log - June 2008 - Can Shipping's Shopaholics Keep Up the Buying Binge? (Page 40) Marine Log - June 2008 - Can Congress Keep Navy Shipbuilding Off the Rocks? (Page 41) Marine Log - June 2008 - Can Congress Keep Navy Shipbuilding Off the Rocks? (Page 42) Marine Log - June 2008 - Can Congress Keep Navy Shipbuilding Off the Rocks? (Page 43) Marine Log - June 2008 - Can Congress Keep Navy Shipbuilding Off the Rocks? (Page 44) Marine Log - June 2008 - Can Congress Keep Navy Shipbuilding Off the Rocks? (Page 45) Marine Log - June 2008 - Can Congress Keep Navy Shipbuilding Off the Rocks? (Page 46) Marine Log - June 2008 - Fitting the Ultra-deepwater Pieces Together (Page 47) Marine Log - June 2008 - Fitting the Ultra-deepwater Pieces Together (Page 48) Marine Log - June 2008 - Fitting the Ultra-deepwater Pieces Together (Page 49) Marine Log - June 2008 - Fitting the Ultra-deepwater Pieces Together (Page 50) Marine Log - June 2008 - Generation Next (Page 51) Marine Log - June 2008 - Generation Next (Page 52) Marine Log - June 2008 - Generation Next (Page 53) Marine Log - June 2008 - Generation Next (Page 54) Marine Log - June 2008 - Generation Next (Page 55) Marine Log - June 2008 - Generation Next (Page 56) Marine Log - June 2008 - Generation Next (Page 57) Marine Log - June 2008 - Generation Next (Page 58) Marine Log - June 2008 - Generation Next (Page 59) Marine Log - June 2008 - Generation Next (Page 60) Marine Log - June 2008 - Higher Demand, Higher Prices (Page 61) Marine Log - June 2008 - Higher Demand, Higher Prices (Page 62) Marine Log - June 2008 - Higher Demand, Higher Prices (Page 63) Marine Log - June 2008 - Demand Up For Large Combination Vessels (Page 64) Marine Log - June 2008 - Demand Up For Large Combination Vessels (Page 65) Marine Log - June 2008 - Demand Up For Large Combination Vessels (Page 66) Marine Log - June 2008 - Demand Up For Large Combination Vessels (Page 67) Marine Log - June 2008 - Demand Up For Large Combination Vessels (Page 68) Marine Log - June 2008 - The Dirty Truth About Emissions (Page 69) Marine Log - June 2008 - The Dirty Truth About Emissions (Page 70) Marine Log - June 2008 - The Dirty Truth About Emissions (Page 71) Marine Log - June 2008 - The Dirty Truth About Emissions (Page 72) Marine Log - June 2008 - The Dirty Truth About Emissions (Page 73) Marine Log - June 2008 - SSAS: Realizing Its Potential (Page 74) Marine Log - June 2008 - SSAS: Realizing Its Potential (Page 75) Marine Log - June 2008 - SSAS: Realizing Its Potential (Page 76) Marine Log - June 2008 - Fuel Saving Technology (Page 77) Marine Log - June 2008 - Newsmakers (Page 78) Marine Log - June 2008 - Newsmakers (Page 79) Marine Log - June 2008 - Tech News (Page 80) Marine Log - June 2008 - Tech News (Page 81) Marine Log - June 2008 - Tech News (Page 82) Marine Log - June 2008 - Tech News (Page 83) Marine Log - June 2008 - Tech News (Page 84) Marine Log - June 2008 - Tech News (Page 85) Marine Log - June 2008 - Tech News (Page 86) Marine Log - June 2008 - Contracts (Page 87) Marine Log - June 2008 - Events (Page 88) Marine Log - June 2008 - Buyer's Guide (Page 89) Marine Log - June 2008 - Website Directory (Page 90) Marine Log - June 2008 - ML Marketplace (Page 91) Marine Log - June 2008 - ML Marketplace (Page 92) Marine Log - June 2008 - ML Marketplace (Page 93) Marine Log - June 2008 - ML Marketplace (Page 94) Marine Log - June 2008 - ML Marketplace (Page 95) Marine Log - June 2008 - Tech Talk (Page 96) Marine Log - June 2008 - Tech Talk (Page Cover3) Marine Log - June 2008 - Tech Talk (Page Cover4) Marine Log - June 2008 - Tech Talk (Page Cover5)
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