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  • cwtripps cwtripps Sep 28, 2008 1:31 AM Flag

    Credit Crunch will break down MANY ships due for 2010+ delivery

    just the facts folks.......gonna see alot of greenfields gone and many new ship orders fall thru

    the strong survive

    new players who thought they could play with the greeks will lose in the end

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    • A lot will depend on whether BDI bounces or stays at low range.

      Shipping companies are not going to follow-though on new-build aggreements with BDI below 5,000. Today, BDI is below 4,000.

      For now, I do not think Audio's thesis that shipping over-supply will drive down BDI is not a realistic threat. Instead, we have to worry about low BDI.

      Best regards,

    • Just to get a feel for your assessment... Credit crunch will ruin the ship BUILDING market but the rest of the BUILDING sectors will thrive, requiring lots of steel, therefore lots of ore. None of them require financing? And if the credit market recover, then all the yards and ships are back on track that you suggest are going to fail? You wouldn't happen to have any actual data to support your thesis would you? Like some cancelled bulker orders or yards that have been cancelled?

      • 1 Reply to audiophule
      • what I'm saying is credit crunch is and WILL ruin any NEW MONEY to the Shipping Game or to Greenfields who "thought" they could just throw up a business and build these ships

        the ones that are strong will have more than enough work and of course steel is needed

        the greeks and the strong chinese tankers will be the winners. dsx, drys, exm, drys will be stronger and pick off any weak ones in shipping