Will the order reduction stabilize the ship price? Global shipbuilding monthly report released

63 new orders signed, a year-on-year and month-on-month decrease

According to the latest statistics from Clarkson (as of September 9, 2022), 63 new orders were signed globally in August 2022, totaling 2,058,965 CGT. Compared with 86 new orders totaling 2,309,217 CGT in July 2022, the number decreased by 23 month-on-month, and the corrected gross tonnage decreased by 10.84% month-on-month. Compared with 178 new orders totaling 3,568,714 CGT in August 2021, the number decreased by 115 year-on-year, and the corrected gross tonnage decreased by 42.31% year-on-year.

In terms of ship types, there were 22 bulk carriers totaling 1,705,000 DWT; 2 tankers totaling 618,000 DWT; 4 chemical tankers totaling 58,598 DWT; 13 container ships totaling 100,670 TEU; 12 LPG carriers totaling 1,584,700 cubic meters; 6 other types of ships totaling 163,236 CGT; and 4 offshore support vessels totaling 141,776 CGT.

In terms of order types, 4 Cape-size bulk carriers, 10 Panamax bulk carriers, and 8 Handysize bulk carriers were newly signed; 2 VLCC tankers were newly signed; 6 ultra-Panamax container ships, 2 post-Panamax container ships, 4 Handysize container ships, and 1 feeder container ship were newly signed.

In terms of the country of the shipyard receiving the order, in August, 63 new ships were ordered globally, totaling 2,058,965 CGT. Among them, Chinese shipyards received 47 orders, totaling 1,195,072 CGT; Japanese shipyards received 2 orders, totaling 45,513 CGT; and South Korean shipyards received 12 orders, totaling 767,902 CGT. The corrected gross tonnage accounted for 58.04%, 2.21%, and 37.30% of the global new ship orders, respectively.

From January to August 2022, 1,032 new ship orders were received, totaling 54,554,699 DWT. Compared with 1,764 new orders totaling 105,644,982 DWT in the same period of 2021, the number of ships and DWT decreased by 41.50% and 48.36% year-on-year, respectively.

In terms of ship types, there were 210 bulk carriers totaling 15,152,650 DWT; 26 tankers totaling 3,036,998 DWT; 54 chemical tankers totaling 1,319,270 DWT; 290 container ships totaling 1,866,794 TEU; 137 LPG carriers totaling 20,374,900 cubic meters; 126 offshore support vessels totaling 742,478 CGT; and 189 other types of ships totaling 2,590,702 CGT.

In terms of countries, China signed 525 new orders, totaling 12,649,931 CGT; Japan signed 81 new orders, totaling 1,956,377 CGT; South Korea signed 214 new orders, totaling 11,716,456 CGT. The corrected gross tonnage accounted for 45.38%, 7.02%, and 42.03% of the global new ship orders, respectively.

Handheld orders: 3702 ships, a slight month-on-month decrease

Clarkson data shows that global shipyards currently have 3,702 ships on hand, totaling 102,732,490 CGT. Compared with 3,743 ships totaling 102,742,683 CGT as of August 9, 2022, the number of ships on hand decreased by 1.10% month-on-month, and the corrected gross tonnage decreased by 0.01% month-on-month.

Among them, Chinese shipyards have 1,996 ships on hand, totaling 44,021,079 CGT, accounting for 53.92% of the global market share in terms of the number of ships and 42.85% in terms of CGT; Japanese shipyards have 542 ships on hand, totaling 9,786,659 CGT, accounting for 14.64% of the global market share in terms of the number of ships and 9.53% in terms of CGT; South Korean shipyards have 711 ships on hand, totaling 35,717,674 CGT, accounting for 19.21% of the global market share in terms of the number of ships and 34.77% in terms of CGT.

In terms of major ship types, there are 891 bulk carriers on hand, totaling 69,613,880 DWT; 483 tankers on hand, totaling 31,751,179 DWT; and 927 container ships on hand, totaling 7,033,987 TEU.

Completion: 110 ships, DWT decreased by 2.06% month-on-month

Clarkson data shows that global shipyards delivered 110 new ships in August 2022, totaling 6,117,537 DWT. Compared with 152 new ship deliveries totaling 6,246,428 DWT in July 2022, the number decreased by 27.63% month-on-month, and the DWT decreased by 2.06% month-on-month. Compared with 152 new ships delivered by global shipyards in August 2021, totaling 5,759,180 DWT, the number decreased by 27.63% year-on-year, and the DWT increased by 6.22% year-on-year.

In terms of ship types, 30 bulk carriers were delivered, totaling 2,160,188 DWT; 14 container ships were delivered, totaling 46,451 TEU; 17 tankers were delivered, totaling 2,460,845 DWT; 10 chemical tankers were delivered, totaling 226,439 DWT; 6 LPG carriers were delivered, totaling 680,804 cubic meters; 18 offshore support vessels were delivered, totaling 131,194 DWT; and 15 other types of ships were delivered, totaling 168,543 DWT.

From January to August 2022, global shipyards delivered 1,299 new ships, totaling 54,529,350 DWT. Compared with 1,555 new ship deliveries totaling 62,462,045 DWT in the same period of 2021, the number decreased by 16.46% year-on-year, and the DWT decreased by 12.70% year-on-year.

In terms of ship types, 264 bulk carriers were delivered, totaling 20,701,219 DWT; 106 container ships were delivered, totaling 552,322 TEU; 159 tankers were delivered, totaling 19,172,530 DWT; 111 chemical tankers were delivered, totaling 2,786,720 DWT; 59 LPG carriers were delivered, totaling 4,684,757 cubic meters; 332 offshore support vessels were delivered, totaling 1,029,341 DWT; and 268 other types of ships were delivered, totaling 1,853,370 DWT.

Bulk carrier and container ship prices remain flat, tanker prices rise

Data shows that the new ship price index for bulk carriers and container ships remained flat in August, at 169 and 103 points respectively, while the new ship price index for tankers rose by 1 point month-on-month to 192 points.

The new ship prices for various types of bulk carriers remained flat in August. The new ship prices for Cape-size bulk carriers (176/180 KDWT), Panamax bulk carriers (75/77 KDWT), Supramax bulk carriers (61/63 KDWT), and Handysize bulk carriers (25/30 KDWT) were US$64.5 million, US$37 million, US$34.5 million, and US$27.38 million, respectively;

Newbuilding prices for oil tankers remained flat month-on-month except for VLCCs (315-320 KDWT) and Suezmax tankers (156-158 KDWT), which saw a slight increase. Aframax tankers (113-115 KDWT), Panamax tankers (73-75 KDWT), and Handysize tankers (47-51 KDWT) were priced at US\$61.5 million, US\$53.5 million, and US\$43.5 million respectively. VLCC (315-320 KDWT) and Suezmax (156-158 KDWT) newbuilding prices increased by US\$1 million and US\$0.5 million to US\$120 million and US\$80 million respectively;

Container ship newbuilding prices remained flat month-on-month except for Ultra-Panamax container ships (22000-24000 TEU), which saw a slight increase. The price of Ultra-Panamax container ships (22000-24000 TEU) increased by US\$2 million to US\$214 million; Ultra-Panamax container ships (13000-13500 TEU) and Handysize container ships (1850-2100 TEU and 1000-1100 TEU) were priced at US\$149 million, US\$86 million, US\$54 million, US\$43 million, US\$31 million, and US\$24.5 million respectively.