1) Why would ship prices be so volatile with regards to the table above ?

2) Will this situation change in the future with regards to the table above ?

3) What lessons would you learn form the table above ?

Representative New Building Price (in million of dollars, annual average) 2004 2003 2005 2006 2007 2008 Type and size of vessel 16 23 38 21 35 62 33 47 38 54 19 32 55 18 86 22 36 62 16 98 97 84 10 13 67 101 108 na na. 2009 March Percentage chango 2010 2009 2008 29 25 -23.7 39 35 -27.8 69 57 -28.9 14 10 -33.3 87 74 -194 114 105 30.5 40 34 -23.1 TO 63 -25.5 116 99 -242 33 30 2.9 46 90 - 11.5 226 210 1.8 154 12 Dry bulk - Handyalze, 30.000 dwt Dry butk - Panamar. 75.000 cut Dry bult-Capenko, 170,000 dwt Container - geared. 500 TEU Container-gearless. 6.500 TEU Container-gearless, 12,000 TEU Oil lanker - Handy 50.000 dwt Oll tanker - Suezmax. 160.000 dm oll tanker - VLCC, 300.000 dwt Chemical tanker - 12.000 dwt LPG carrier - 15.000 m3 LNG carrier - 160.000 m3 . 42 28 47 52 94 47 35 60 91 16 36 173 8 % % % % % % 8 g 6 ; 76 125 21 49 217 67 12 28 153 136 33 119 18 45 205 34 52 222 237 Source: UNCTAD 2012