Ecoships: Don’t believe the hype

Singapore-based Berge Bulk ceo James Marshall has slammed the ecoship craze, urging fellow owners to be wary of shipyard efficiency claims. Speaking at Marine Money’s event in Singapore, Marshall said of ecoships that they were “absolutely not a reason to buy per se a new ship”.

“When we have looked at ecoships especially for larger ships some of the yards’ claims are over exaggerated,” he said.
Marshall observed that the flagship of his fleet, the VLOC Berge Stahl (pictured), at 27 years old was more efficient than new tonnage coming out of the yards.

“Per ton carried she is more efficient than these new ships – not just because she is larger but because she was built at a time when oil prices were high,” he noted.

Marshall was bullish on dry bulk freight rates, saying: “Today, we are very confident in the cape market – over $40,000 was done yesterday. The market is looking very good for the next couple of years. As we go into 2016, 2017, 2018 however it might be more difficult as more new ships will be ordered.”

Berge Bulk has been “pretty active” in the last couple of years in the second hand market as well as ordering new ships, the ceo of the 2007 created firm said. The fleet now stands at 35 ships.

“We believe in the market and the price is right,” said Marshall.
Source: Sea Ship News