OECD shipbuilding group shuns steel index.

Source: Lloyd's List
The Organisation for Economic Co-operation and Development’s shipbuilding working group is not proposing to look at steel prices or a suggested escalation clause in newbuilding contracts as part of its forward work schedule, despite calls from European shipbuilders for a formal escalation clause to be inserted into future newbuilding contracts to allow the value of the contract to fluctuate according to influencing factors, which include the increasing steel prices.