The total volume of tonnage on order in world shipyards fell by 5 % during the last six months, down to the lowest levels since ten years. Mid of July 2019, the global orderbook comprised 2,778 vessels with a combined 74 million cgt and 195 million dwt. This represents only 10 % of the existing fleet capacity, down from 15 % mid of 2015 and almost 60 % below the peak of 2008. As a result, the number of active shipyards worldwide is down by about 50% since 2009.
Total order book development since 1998
The global shipbuilding market has been suffering from a lack of orders for years. The volume of the order book is roughly one third of what it used to be mid of 2008. Today, particularly the Asian shipyards are plagued by low utilisation rates. As a result, Chinese and other Asian shipbuilders have shown a particular interest to gain market shares in the field of specialized shipbuilding, i.e. cruise vessels, which – as of now – still remains a business dominated by European yards.
The ISL SSMR 2019-9/10 highlights the developments around the global shipbuilding market and is now available in our webshop.
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2019/11/7 10:22:09