The cost of shipbuilding is expected to remain relatively flat over the coming months.

Greek shipbroking house Intermodal claimed that although there had been a rise in interest in new buildings, the current performance of the freight industry would mean it would be extremely unlikely for a predicted price surge to occur. However, the firm did not anticipate costs to fall either.

Speaking to Lloyd's Loading List, sale and purchase broker George Iliopoulos commented: "We don't expect any booming in orders anytime soon with the conditions prevailing in the market at the moment."

He added many buyers would be looking to exploit the current poor performance of shipping rates to try and get a better deal from sellers. 

Meanwhile, Intermodal also found shipbuilders were enjoying better cash flows, due to the fact they have covered the vast majority of their timeslots. This means they were no longer feeling under pressure to offer discounts to secure new orders.