That is the message from one of the most respected leaders in the shipping world, billionaire Dr Helmut Sohmen, chairman of the Hong Kong-based BW Group.
"Markets are absolutely terrible", says Helmut Sohmen, from Maritime CEO.
"More and more owners are hoping for hope," says Sohmen waiting that the current downturn will last for 2-3 years.
But there is hope in the horizon.
"Technology is developing rapidly. When we in a few years again will meet better times, the ships we currently think of as eco-ships may already be outdated", says Sohmen.
Helmut Sohmen stresses that he is very much opposed to the many new ship orders and he does not understand that banks lend money to all these new ships.
"For some reason banks are lending money for building new vessels, despite the fact that there is already a clear overcapacity", said Sohmen.
Source: Maritime CEO
Topic: Sohmen: Stop ordering new ships (Read 1340 times)