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6TH LONDON SHIP FINANCE FORUM
MARKET EQUILIBRIUM
Disclaimer
KMARIN
Market Structure & Shipping Funds
Shipbuilding Yards
Financial Banks, Investors
Ship Owners
Shipping, Cargo Companies
Norwegian KS German KG Korean KG & The Hedge Funds &
Japanese, Chinese Leasing Cos
KMARIN
Mil.
Oversupplied Vessels
Supply > Demand
The Growth By Economic Boom
The Global Financial Crisis
Speculative Orders
The Second Crisis
MM London 2015
Transition of Shipping Market
Overbook by Shipowners
[Source: Clarkson Research]
Rank Company No. M.CGT Ratio
1 A 111 2.7 2.37% 2 B 77 2.4 2.11% 3 C 83 2.3 2.02% 4 D 74 1.9 1.67% 5 E 21 1.6 1.41%
6 F 26 1.5 1.32%
7 G 32 1.5 1.32%
8 H 32 1.4 1.23%
9 I 47 1.4 1.23%
10 J 57 1.4 1.23%
11 K 34 1.2 1.06%
Others 4,647 94.4 83.03%
Global Total 5,241 113.7 100.00%
World Tonnage on Order, 2000-2014
[Source: UNCTAD, Clarkson Research] (Thousands of DWT)
Aggressive Ship Ordering
Overproduction
Baltic Dry Index
11,793
647 750
Now
666
[Source : The Baltic Exchange]
(Supply = Demand)
Price
Quantity
Supply Demand
Market Equilibrium by Conscious Tonnage Providers
What shall we do to prevent the third crisis?
Leading Tonnage Provider comes LONDON for Market Rebalancing