The pace of ordering of newbuild ships has well and truly slowed in the first half of the year with just under 500 ships reported contracted – the lowest number of orders in the first half of the year since 1999.
Despite this, a number of owner countries have ordered a larger volume of tonnage year-on-year (y-o-y) - including Japan, which is at the top of the contracting table this year.
Alongside this, ordering has been more consolidated.
There has been a dearth of ordering in the year-to-date (ytd) with a reported 464 ships of 27.7 million gross tonnage (GT) contracted – down almost 50% y-o-y in GT terms (predominantly due to limited bulker and offshore ordering).
The volume of tonnage ordered by the ‘top 10’ owner countries, in terms of ytd ordering, is down 30% y-o-y.
Meanwhile, ordering by countries outside of this mix is down just over 60% y-o-y.
As a result, ordering has become more consolidated towards the ‘top 10’ owner countries and they account for almost 80% of GT contracted in the ytd compared to 65% last year.
Source: Clarksons Research
Ship orders in big slowdown
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