New orders increased by 82% up to May.

2013-06-26 09:00

At the beginning of 2013, the global newbuilding market remained active. Up to May of this year, the cumulative new orders reached 604 vessels and 53.7 million DWT (13.6 million CGT).

According to the latest statistics from Clarkson Research Services, the order volume increased by 82% year-on-year in terms of DWT as of May.

Conversely, in terms of value, newbuilding orders totaled US\$26.6 billion in the first five months of this year, a 26% decrease year-on-year.

This is mainly attributed to the fact that last year's orders primarily involved high-value-added offshore vessels and liquefied gas carriers, while this year's orders are mainly traditional vessels.

From January to May, the Chinese shipbuilding industry received 271 vessels, 17.5 million DWT (5.3 million CGT, US\$7.7 billion) in newbuilding orders; the South Korean shipbuilding industry received 162 vessels, 14.7 million DWT (5.2 million CGT, US\$12.8 billion); and the Japanese industry received 73 vessels, 5.6 million DWT (1.7 million CGT, US\$3 billion) in orders.

In May, new orders totaled 113 vessels, 7.9 million DWT, and US\$6.9 billion, with bulk carriers and container ships accounting for the majority.

Thanks to the upward trend in newbuilding orders, as of the end of May, Clarkson's newbuilding value index stood at 126.6 points, up 0.3 points month-on-month but down about 5% year-on-year.

In particular, the newbuilding prices in the bulk carrier sector have shown a slight upward trend after bottoming out. The standard newbuilding price for a 180K Capesize bulk carrier reached US\$47.5 million, up US\$0.5 million year-on-year.

The standard newbuilding price for a 35K Handysize bulk carrier also increased by 1.2% to US\$21.25 million, marking the first increase since May 2010. The standard newbuilding price for a 58K Panamax bulk carrier also increased to US\$24.75 million, the highest level since July 2012.

In addition, up to May this year, the global shipbuilding industry's newbuilding deliveries reached 849 vessels and 54.5 million DWT. In terms of the number of vessels, this represents a 28% year-on-year decrease, and in terms of DWT, a 15% year-on-year decrease.

However, during the same period, the number of newbuilding deliveries exceeded the number of new orders by 41%, and the backlog of orders continued to decline.

As of the end of May, the global shipbuilding industry's order backlog stood at 4,438 vessels and 242.1 million DWT (89.7 million CGT), down 26% year-on-year in terms of the number of vessels and 29% in terms of DWT. From January to May 2013, the demolition of older vessels reached 438 vessels and 19.8 million DWT, down 33% year-on-year in terms of the number of vessels and 29% in terms of DWT.

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