Prices of Bulk Carriers, Oil Tankers Inch up in May

  • Arirang News

    May 31, 2017 09:24

    The shipbuilding industry, long a mainstay for Korea, has been in a slump for years, but is finally showing signs of recovery on a rise in demand.

    The U.K.'s Clarkson Research Institute said prices for bulk carriers and oil tankers inched up in April and May. The price of a Very Large Crude Oil Carrier, one of the most popular models sold by Korean shipbuilders, rose by about US$500,000 to $8.5 million. This is the first rise in nearly three years.

    The institute projected that the worst may be over and that shipbuilders may be on track for a recovery.

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