Chinese State Reserve Bureau News

“The LPG market will by this slower fleet growth be better positioned than most other shipping markets when the GDP growth resumes to previous levels, particularly in Asia,” explained Niklas Bengtsson, senior consultant for Fairplay Market Forecast. “China and South Korean dominate the order book for tankers over the next five years, holding 30 percent of the orders between them. This is expected as China will continue to increase its share of world exports with the Chinese state buying raw materials for stockpiling. The Chinese State Reserve Bureau, which manages the government stockpile, has bought copper, aluminium, zinc, indium and titanium in recent months. The monthly Shipbuilding Market Forecast for February 2010 examines the oil, chemical, LPG and LNG tanker markets.