Wednesday, August 24, 2011

New orders at 20-month low

ship newbuilding orders plummeted to a 20-month low last month worldwide.

According to Clarkson Research Services data on August 23rd, new merchant ship orders totalled just 1.58m cgt or 67 ships in July.

The order amount is smallest since November 2009. It is 53% less on a previous month and fell by more than 60% from July 2010 when 4.2m cgt or 190 newbuildings were inked.

Seasonal factors like long summer vacation and continued worries on slow recovery of global economy seem to have had effect on the slump.

South Korean shipbuilders, which won the most ship orders this year, secured just 1m cgt or 19 ship orders last month, only half of 2m cgt or 55 ships secured a year ago.

A local major shipyard official said, "There seems to be no special reason for the slump, it can be viewed as a temporary slowdown after a shower of newbuilding orders in the first half of the year."

"LNG carrier orders, which recorded only five ships last year, has jumped to near 40 ships so far this year and the ordering will continue in the latter part of the year," he added.

Published : August 24, 2011


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