‘Research reveals senior shipping professionals believe now is a good time to invest in the dry bulk shipping market’
On Monday 21 March, TIME commissioned a survey amongst senior shipping professionals to gain insight on the current views of the dry bulk shipping market.
The research revealed that 83%* of the shipping professionals believe the dry bulk shipping market has now hit its lowest point and is showing signs of improvement, making it a good time to invest in the sector.
Alan Bekhor, Chief Executive Officer, British Marine: “With investment in second hand dry bulk tonnage so far this year recently passing the $1bn mark and average asset prices at their lowest since the turn of the century (and back even further when adjusting for inflation), now really is an opportune time to buy into this cyclical market. With vessels with at least 15 years of useful life being sent to the scrap yard to avoid maintenance and debt costs, as long standing owner-operators, we believe that the supply demand imbalance will not last forever. We feel that the dry bulk ship owners will return to cash-flow breakeven over the next 12-18 months and normal trading conditions thereafter. The investment opportunity is even more interesting given the benefit of the tax reliefs of both the Enterprise Investment Scheme and the UK Tonnage Tax regime.”
*survey results as at 09:00 24 March 2016