Newbuilding prices could rise by up to one-fifth this year as the shift to eco-designs stimulates demand and drives scrapping, according to BRS Group.
The Paris-headquartered broker estimates 100m dwt of tonnage could be ordered in 2021, helping to drive up prices by 10% to 20%. Growing environmental and regulatory pressures are expected to be key drivers.
“The concept of a ‘post-Covid’ world in the maritime sector will soon materialise into a new reality defined by environmental and sustainability initiatives,” chairman Francois Cadiou wrote in BRS’ annual review of shipping markets.
