legacies of the recession ?
DESCRIPTION
Legacies of the recession ?. Demand down Rates down. Squeeze on costs !. The challenges remain ! Manning shortages– quantity and quality Fuel and other operating costs increasing Expectations of Charterers and Shippers Environmental pressures Piracy Concerns over criminalisation……. - PowerPoint PPT PresentationTRANSCRIPT
Legacies of the recession ?
• Demand down• Rates down
Squeeze on costs !
The challenges remain !• Manning shortages– quantity and quality• Fuel and other operating costs increasing• Expectations of Charterers and Shippers• Environmental pressures• Piracy• Concerns over criminalisation……...
Squeeze on costs = Squeeze on Quality ?
• Challenge to maintain quality and standards, - e.g. maintenance, training
• Challenge to meet the issues of the day – e.g. including environmental challenges
Legacies of the recession ?
• Demand down• Supply up
The LegacyToo Many Ships
Orderbook – All ships (>999GT)
Source: Clarksons, April 2010
The LegacyToo Many Shipyards
Source: Worldyards/INTERTANKO Aug 09
m cgt
2631 33
38
26
26
55
42
15
3 0
914% 26
38%
4876% 62
95%67
99%
0
10
20
30
40
50
60
70
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Available capacityOrderbookHistorical deliveries
Shipyard output potential - surplus
Implications ?
• Distressed sales / lower prices
• Quality and standards maintained or weakened
• Pressure on suppliers and sub-contractors
• Greater customer focus & customisation
• And possible government interventions ?
Sunrise or Sunset ?
• Ship owners• Ship managers• Manufacturers/Suppliers• Shipbuilders• Ship financiers• Shipping organisations• Shipping magazines !
A new dawn ?
• Administrations/flags• Regulators• Classification societies• Port State Control• Others ?
Legacies of the recession
• What does this mean for the Seafarer ?
Is this the future ?
The New EraThe New Era
or
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