It is starting to see parallels between the renewed contracting at the start of 2013 and the actions of owners back in 1981.
Bjorn Kristian Roed, an analyst at Danske Bank, says the current situation looks “mysteriously similar” to the 1981 low cycle when fuel efficient vessels, excess yard capacity, attractive payment programmes, and a favourable Japanese yen tempted owners to reach for their cheque books.
“In
