First quarter global new order volume doubled

2013-06-18 09:54

With newbuilding prices at a historic low, environmentally friendly vessels with improved fuel efficiency are sweeping the global newbuilding market. Despite the prolonged downturn in the shipping market, newbuilding contracts increased at the beginning of the year.

From January to March 2013, global shipbuilding orders totaled 16.39 million gross tons (GT), a year-on-year increase of nearly 100%.

According to HIS statistics, new orders for container ships in the first quarter of 2013 totaled 44 vessels and 3.99 million gross tons (GT), a significant year-on-year increase of 23 times. The increase was particularly prominent for large container ships.

During the same period, bulk carrier orders totaled 118 vessels and 543 gross tons, a 2.3-fold year-on-year increase. Looking at various vessel types, orders for 60,000-85,000 DWT vessels increased by approximately 3 times (1.46 million gross tons), and orders for 130,000-200,000 DWT vessels also increased by approximately 2 times (1.56 million gross tons).

Orders for tankers totaled 104 vessels and 4.46 million gross tons, a year-on-year increase of approximately 40%. In particular, orders for MR tankers (40,000-60,000 DWT) totaled 50 vessels and 1.48 million gross tons, an increase of approximately 80%.

During the same period, orders for liquefied gas carriers totaled 17 vessels and 450,000 gross tons, a year-on-year increase of approximately 80%.

From a country perspective, South Korea received the most orders, totaling 104 vessels and 6.61 million gross tons, primarily large container ships, MR product tankers, and LNG carriers. China and Japan received 157 vessels (5.51 million gross tons) and 75 vessels (2.16 million gross tons) respectively, mainly Cape-size bulk carriers.

Despite the prolonged downturn in the shipbuilding market, global newbuilding deliveries in the first quarter of this year decreased by nearly 20% year-on-year. South Korea delivered the most newbuildings globally, based on gross tonnage (GT).

According to HIS statistics, from January to March 2013, global shipbuilding completions totaled 789 vessels and 22.48 million gross tons (GT), a year-on-year decrease of approximately 20%. Completions in China and South Korea were 259 vessels (7.84 million gross tons) and 129 vessels (8.02 million gross tons) respectively, both showing a year-on-year decrease of approximately 20%. During the same period, Japan's shipbuilding completions totaled 163 vessels and 5.13 million gross tons, a year-on-year decrease of approximately 4%.

Furthermore, as of the end of March, global newbuilding order backlog totaled 5,629 vessels and 161.28 million gross tons, a 23% decrease from a year earlier.

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