Mizho expects 55M GT newbuilding orders

Mizho Bank in Japan expects that new order volume in 2007 will be 55 million GT. The bank said that Korean shipbuilders will take new orders at attractive prices because they have shipbuilding slots for 2010 and 2011.

The bank predicts that Korean shipbuilders will clinch 23 million GT while Chinese shipbuilders win 15 million GT thanks to the rapid expansion of their shipbuilding facilities. Japan however may secure up to 12 million GT because several shipbuilders are already fully booked until 2011 and 2012.