Shipyard orders at lowest level since the 1980s

Shipyard orders at lowest level since the 1980s

Shipbuilding orders in the first ten months of this year have dropped to levels not seen since the 1980s, according to Clarksons Research.

From January to October this year, global newbuilding orders recorded 359 vessels of a combined 24.8m dwt (9.6m cgt), showing a 73% year-on-year decrease in dwt terms.

As of the end of October, Clarkson’s newbuilding price index stood at 124.0 points, down by 6.1% year-on-year. Orders in the first 10 months totalled just $29.5bn, down 60% on the same period of 2015 – and cruise orders accounted for around half this total.

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.

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