Low shipbuilding prices have created what some are describing as a "lemming-like rush" by established trading companies to invest in newbuildings.
Energy and commodities company Vitol is the latest to join the bandwagon with an order of up to eight very large gas carriers (VLGCs) worth $540m at Hyundai Heavy Industries (HHI). Other trading companies and investment banks taking advantage of cheaper newbuildings include JP Morgan, Trafigura and Cargill, as well as Chinese leasing companies.
