Newbuild orders plunge 40% in 2019

Newbuild orders plunge 40% in 2019

Latest figures from Clarkson Research Services show the huge hesitancy among owners to place orders this year. 

Describing newbuilding contraactiung in the year to date as “subdued”, Clarkson data carried in its latest weekly report shows that 708 new vessels have been reported in 2019 to date, a year-on-year decline of 40% on an annualised basis. 

Commenting on the ordering plunge, Dr Martin Stopford, president of Clarkson Research Services, told Splash today that the potential avalanche of regulations coming shipping’s way was holding the industry back from committing to new vessels.  

“We are in a unique position.Shipyards are gagging for orders and yet owners are gagged as they do not know if ships will be able to trade through their entire economic life,” Stopford said. 

In a recently concluded survey carried on this site, regulatory concern was cited as a distant second to the unstable nature of the markets for the current ordering impasse. 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts