On the shipbuilding front, newbuilds have encountered a blow due to budget cuts and shipowners are deferring signups for newbuilds. With the decline in the orderbook, more shipowners have chosen to opt for repair and maintenance instead. What adverse effects would this decline bring about? What is the outlook for the newbuilding market?
Read on to find out the perspectives from Eddy Kurniawan Logam, Chairman of Indonesia Shipbuilding and Offshore Association (IPERINDO) and President Director of PT Logindo Samudramakmur.