Despite continuing low contracting levels, London analyst Maritime Strategies International (MSI) believes stagnating newbuilding prices are set to finally turn next year.

The company has recently applied its market analysis and forecasting skills to predict future secondhand and newbuilding values through its Forecast Marine eValuator (FMV).

When it runs its shipping supply and demand figures and a host of other yard specific factors through FMV, the forecast model predicts prices will bottom out and start to improve sometime next year.