One man’s Kia is another man’s Benz
Danish Ship Finance (Danmarks Skibskredit) notes in its midyear review that the outlook for the car carrier sector “remains positive despite high fleet growth.”
It adds that “although high petroleum prices generally are viewed as destructive for global economic growth, several shipping segments have experienced improved demand because of it.”
“Car carriers have seen greater deep sea transport requirements as high oil revenues have boosted Middle East imports of European luxury cars and as high fuel costs have boosted American imports of fuel-efficient cars,” it said.