Lloyd's List - Lloyd's Shipping Economist

Analysis

It’s a myth Greek shipping will escape country’s financial fallout
Blogger Maitland refuses to be complacent about fact that Greece is insolvent
Vessel prices ‘sticky’ in illiquid market
But price/earnings ratio for ships holds steady despite market strain
Back to square one
The euphoria of last year’s bounce in the container markets and operators’ bottom lines has evaporated
The price of low sulphur
Rising marine fuel prices are adding to the financial pressure ship faced by operators
Ice cap cover set to thaw over time
Transiting polar waters is throwing up challenges for both operators and insurers
IMF leadership election poses questions for shipping
The favourite to take over as managing director is French finance minister Christine Lagarde. How will she deal with eurozone debt fears and emerging countries’ needs?
Hopes of box recovery are fading fast
Limited demand growth, overcapacity, higher costs and battles for market share are all taking their toll on the container trades
Basis for valuing ships is undergoing a sea change
Traditional approaches are increasingly being regarded as inadequate to meet the latest accounting rules’ more stringent requirements
Rise in G20 trade curbs could derail recovery, OECD warns
More new restrictive measures have been put in place in the last six months than at any time since the financial crisis
Drilling to make a killing
Shipowners and financiers look to offshore as an alternative to investing in new vessels
VLCC owners endure difficult times
With falling rates, an oversupply of tonnage and fluctuating crude oil prices, the sector has been struggling in recent months
Commodity prices’ volatility could shake dry bulk and tanker markets
The next few weeks will indicate whether we are seeing a fundamental adjustment in prices that will help boost economic activity
Italian shipowners stick with domestic lenders
More than 80% of outstanding loans are with supportive national banks
Steel demand recovering faster than expected, says OECD
But pre-crisis industrial peak in advanced economies unlikely to be passed until second half of next year
Playing the system to stay afloat
Banks are still supporting owners’ efforts to reorganise finance and avoid the risk of default