2021 Thus far & What’s Being Foreseen by Sinotech Marine
However, as March, signifies a new season, Sinotech Marine is seeing the bullish sentiments of the previous two months start to fade with the change of the season. Due to the Sinotech Marine’s outlook not based as much on the actual sales of the market but on the demand of enquiries and orders of pre-purchase inspections, they are in a position to foresee the slowdown of the S&P market before the sales reflect it. Sinotech Marine is observing commercial discrepancies, in particular for the dry market, this is to be expected as the second hand-prices are reaching and surpassing the five-year average figures; thus, making buyers a bit hesitant to proceed. As well, the tanker market remains an unstable investment due to the consistent low freight rate levels. However, this market movement can change course if buyers and sellers have a sophisticated approach to agreements and if the market investment fundamentals remain firm. As the year started off on a high note, Sinotech Marine hopes that a robust trajectory remerges in the demand of pre-purchase inspections to propel a positive S&P market.
Disclaimer: The views expressed above is the independent opinion of the author and should not be taken as reference or factually.
Source: Sinotech Marine, By Marina Theodorompeakou