“We’ve seen signs the worst is behind us but nothing significant yet, such as a 10% increase in the price of new ships, for instance. Ship prices hit a ten-year low at the end of last year and now are rising again on some segments, such as oil tankers,” says Radu Rusen, general manager of Constanta Shipyard.
The shipbuilder hopes the price rebound to continue and the shipyard to resume production of new ships instead of focusing on repairs as it is doing now.
It is currently working on an upgraded version of its oil tankers, with a capacity of 50,000 dwt instead of the current 40,000 dwt and lower fuel consumption. The company says the market has shown interest in the tankers and plans to launch them in the second half of next year. If the ship prices go up 10%, contracts for two such tankers might be signed this year.
The shipyard in Constanta lost 40.3 million lei (EUR9.1 million) in 2011 and 2012 together, mainly due to the leu exchange rate trend. The company budgeted lower losses, RON3 million for 2013, as well as RON140.8 million revenue, half the 2012 revenue (RON283 million). (EUR1=RON4.4161)
(English version by Loredana Fratila-Cristescu)