Russia needs bulker fleet of 70 million dwt to ensure transport independence in this segment
A program of preferential loans is to be developed for acquiring bulkers abroad
To ensure transport independence in the segment bulkers, Russia needs a fleet with a total deadweight of 70 million tonnes, IAA PortNews correspondent cites Ivan Blagodatskikh, representative of TransFin-M, as saying at the Maritime Congress in Moscow. According to the speaker, Handysize bulkers, which are the most in-demand, cost $30 million for a newbuilding, or $20 million for a 10-year old one.
The expert believes that the pay-back period can exceed 30 years with the 10-year average freight rates. Such an acquisition is unprofitable for a shipping company.
“We suggest the development of a program of preferential loans in the part of acquiring or building ships abroad for a short period of 2-3 years while Russian shipbuilders are not able to meet the demand for such ships in full,” said Ivan Blagodatskikh. Transfer of ships to the flag of the Russian Federation and co-financing by a Russian bank should be an obligatory condition under this program. With rates between 1.5% and 3% for 10 years, the pay-back period is not to exceed a decade for a new or a 10-year old bulker, making it affordable for shipping companies.
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