Global orders for new ships will reach 120 million dwt this year

In October, the demand for new ships dropped. Globally, 85 new ship orders with 5.79 million dwt were signed. In terms of deadweight tonnage, the month-on-month decrease was 41.5% and the year-on-year increase was 3.7%.
 
From January to October, a total of 1,585 new ship orders and 110.08 million dwt were signed globally. In terms of deadweight tonnage, a year-on-year increase of 156.1%. On the whole, the global shipbuilding market is going well in 2021, and the annual trading volume of new ships is expected to reach 120 million dwt.

Market for main ship types is improving
 
In terms of container ships, from January to October, global orders for 508 new ships and 43.54 million dwt were signed, an increase of 841.6% year-on-year. The specific orders included 192 10,000TEU container ships, 148 medium container ships and 168 feeder container ships.
 
For bulk carriers, from January to October, global new ship orders were signed for 371 ships and 33.18 million dwt, an increase of 109.0% year-on-year. The specific orders included 71 Capesize ships, 119 Panamax ships, 88 Handymax ships and 64 handy ships.
 
In terms of oil tankers, from January to October, the world signed an order for 189 new tankers over 10,000 dwt and 21.24 million dwt, an increase of 24.3% year-on-year. The specific orders included 33 VLCCs, 11 Suezmax tankers, 47 Aframax tankers and 98 small and medium product tankers.
 
In terms of liquefied gas carriers, from January to October, global new ship orders were signed for 158 ships with 9.47 million dwt, an increase of 48.5% year-on-year, including 56 large-scale LNG ships, 55 VLGCs, and 47 small and medium-sized liquefied gas carriers.
 
Prices of new ships continue to rise
 
In October, the Clarkson New Ship Price Index closed at 152.3 points, up 3.2 points month-on-month and 26.7 points year-on-year. From the perspective of the main ship types, the Clarkson new ship price index for bulk carriers, oil tankers, container ships and liquefied gas carriers were 160.1 points, 179.4 points, 96.0 points and 155.7 points, respectively, up 1.9 points, 0.9 points, 0.6 points and 0.4 points respectively. A year-on-year increase of 36.8 points, 34.6 points, 20.1 points and 21.8 points respectively.
 
From the perspective of typical ship types, the prices of various typical ship types have risen steadily. The prices of new ships of VLCC and large-scale LNG ships have reached high levels of US$108 million and US$203 million, respectively.
 
China remains the industry leader
 
From January to October, Chinese shipyards signed new ship orders for 55.07 million dwt, an increase of 155% year-on-year, with a global market share of 50%, continuing to lead; South Korean shipyards signed new ship orders for 38.5 million dwt, an increase of 235% year-on-year, the global market share is 35%, ranking behind China; Japanese shipyards have signed new ship orders for 11.21 million dwt, an increase of 44% year-on-year, and the global market share is 10%.
 
Source: Sarah Yu, XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.