Wednesday, August 24, 2011

Newbuilding order in July lowest

In July 2011, total newbuilding order reached a record low in recent 20 months.

Clarkson Research Services reported on Aug 23 that newbuilding orders placed in July totals 67 vessels of 1.58m cgt, which records monthly-lowest in 2011 and for 20 months since Nov 2009 as well.

In terms of cgt, total newbuilding orders in July dropped by 53% from June and decreased over 60% from 4.2m cgt, 190 vessels in July 2010.

Recent downturn may be caused by summer vacation, pullback from over newbuilding order in H1, continued insecurity over global economy, etc. In summer, a sort of off-season is made, as shipowners in Europe take long-term vacation over a month.

Meanwhile, South Korea, which retook the first place in newbuilding order this year, ended up with 19 vessels of 1.6m-cgt new order sharply down from 55 ships of 2m cgt in July 2010.

Officials from shipbuilding industry said, "There is no particular reason for fallback of new order, but seasonal break and industries' taking a breather from H1 performance." And forecast, "Strong demand for LNG carriers, which went up to 40 vessels in 2011 from five ships in 2010,  would continue its uptrend in H2."



Published : August 24, 2011






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