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Shipbuilding continues to sink with orders at 32-year low

China 2604 Japan 518 South Korea 510 Theme - Shipbuilding 98

The recent surge in global shipping volumes and container rates has yet to drive improved demand for new ships. According to Capital Product Partners CEO, “today’s order book of around 8% (of existing vessels at sea) is one of the lowest we have seen” while Danish Shipping has stated global orders are their lowest since 1989. Orders for new ships at Chinese shipyards were equivalent to just 34% of production in September, potentially due to shipping firms awaiting the outcome of new environmental rules. While exports of new ships from China improved by 4.0% year over year in Q3’20 that w...

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