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Volume of ship orders at highest levels seen since 2014

Ship orders in the year to date are at the highest volumes seen since 2014 despite many owners having severe reservations about future propulsion methods. A total of 526 orders of 46.4m dwt and 34.6m gt have been reported so far according to data from Clarkson Research Services.

Much of this uptick has come from the surge in boxship orders, with 218 vessels of 2.2m teu and 22.9m dwt contracted in the year so far, propelling the boxship orderbook-to-fleet ratio towards the 20% mark. There has also been notable interest in LPG carriers, with 57 orders, according to Clarksons. Meanwhile, just 88 tankers and 81 bulk carriers have been ordered

Chinese and South Korean yards have taken the majority of orders in 2021 so far, each accounting for 46% of the global total in dwt terms.

Prices have also picked up sharply to levels not seen since 2014 (see chart below).

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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