FSL Trust "weak" against business risk : S&P

I am kinda agree to this article about FSL Trust. We cannot deny FSL Trust is at the worst now;
in fact the whole shipping line is not doing well, but i can see that shipping sector is getting better compare to previous year.

Last year shipping sector almost at the "Freeze" condition. This year those ship owners starting to convert their ships for others purpose. You can conclude that their business is not good so they rather convert their stand by condition ships and you also have to admit that they are preparing themselves for the future market! At least they willing to fork out the money for investment rather then keep their money and just watch at the market. This is a positive sign. Economic recovery always depend on investment.

Slow moving shipping line has largely affected ship builders. Ship builders are still surviving due to old orders. The new coming orders are not much. It is not a good sign but they are surviving better then last year. Ship owners start to trigger their investment toward their assets by conversion. You can notice this from the news released like Keppel Shipyard secures SBM's FPSO conversion order and so on.

The wheel for shipping & marine finally start turning, this seems to inform us that the worst going to end soon. No conclusion can make at the moment but it is worth to keep an eye on this sector already. Anyway shipping & Marine line is kinda slow re-act sector. We can take our sweet time to monitor it.