August has been a relatively quiet month in the newbuildingmarket and the question remains how much of this is due to summer holidays and also possibly the Olympics. AP Møller has been active this month, with the acquisition of Brostrøm last week and close negotiations with STX for four VLCC?s. Rumors in the market about various yards struggling to issue refund guarantees and facing increasing delays as well as owners facing difficulties financing their existing contracts is something worth following closely in the months to come.
Read more