News that both COSCO and Yangming have delayed delivery of vessels from 2018 to 2019 is a positive sign for market developments in 2018.
Of particular importance is that the postponement of deliveries means that COSCO now stands to receive only half the amount of vessels larger than 14.000 TEU in 2018 as originally planned.
One of the major risks for 2018 has been the risk that COSCO would be forced into aggressive pricing action to ensure proper utilization of the phase-in of the larger vessels they get delivered in 2018. With the postponements this risk is not eliminated, but certainly reduced – in turn shifting the market outlook for 2018 to a higher likelihood of relative stability.
Source: Hellenic Shipping News.