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The Saturation in the Shipyards Doubles the Price of the Oil Tankers and Shoots up the Second-Hand M

The high demand from most of the main shipping lines worldwide (Maersk Line, Mediterranean Shipping, Kline, and Nippon Yusen, in container ships; National Iranian Tankers, in oil tankers, and Royal Caribbean, in ocean liners) is causing a marked upward trend on the prices of new works. The order book of the merchant fleet has been doubled since 2002, with a progressive increase in the orders since 1983, after overcoming the long and deep energy crises developed in 1973.

The current strong pull, gives to oil tankers and gas tankers the main role in the worldwide market; holding nearly 23% of all the contracts, which invites the manufacturers to increase their prices in general. A recent study from a Japanese consulting firm backs up this thesis, and holds that, in some sectors, the fleet has doubled its value in the last five or six years, which, exactly, coincides with the burst of new orders worldwide.

The tankers are some of the most coveted pieces. Among the given examples, the Japanese maritime consultancy firm Iumi, mentions that Aframax tanker, (with a 110.000 tons of death weight) valued in 33 million de dollars in December of 2000, currently costs 62 millions dollars. Iumi declares that “some types of ships even cost double than they did just four years ago”.

On the other hand, the cost of the second hand ships is also increasing. This is an alternative chosen by the shipping lines more frequently lately, given the fact that the ship handing over period is growing longer, at the present within five or six years; such a long time causes difficulties to ship owners to make their company viable. According to the Asian firm, as consequence of the high demand of used units, the price of used ships is very close to the price of new ones. Other collateral positive effects that this high demand of new ships is causing, is the boom that is taking place in the transformation market, which saves the loos of time that a new unit represents, and which turns out to be easier and to have a considerably lower cost. (Source: La Voz de Galicia)

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