Tuesday, November 13, 2012

[Ship Building] Global orders inch up

Global orders inch up

October saw global new orders increased by 30 vessels against previous month to 135 vessels, according to China's Glinfo.com.

Chinese shipbuilders contracted overall 59 newbuildings during the same month, comparing with 40 vessels contracted in September. Most of orders turn out to have placed from European owners.

Of them, bulkers saw 15 orders, up by seven vessels on the previous month, and eight product carriers and nine offshore drilling platforms were contracted.

During the same month, the rest of shipbuilders, excluding Chinese, penned a total of 76 newbuildings, up by 11 vessels month-on-month.

In October, Korean shipyards contracted overall 34 new orders, while shipbuilding industries in the Netherlands and Japan booked 16 and seven newbuildings, respectively.

Although there are several positive indicators for shipbuilding market recovery, such as slowly increasing new orders, improving China's macro economy, etc., global economy is still depressed by and large and shipping market seems not likely to make a significant uptick.

Therefore, global shipbuilding market seems to be still distant from recovery.

Published : November 12, 2012

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