The number of new ship orders continues unabated. Currently, if you want to buy a new ship from the big three shipbuilding countries you will have a minimum wait of three years for delivery.
This latest boom has now produced the highest number of vessels ordered in a first quarter for the major trading types in 13 years which is good news for builders and equipment suppliers, maybe not so good news for owners!
Still, it is hard to believe how quickly the newbuilding industry has recovered and on current form this year could be the highest annual order intake for five years.
One factor against this however is the fact that orderbooks are now fully booked with new deliveries starting from at least 2024. Not good if you want a vessel sooner.
Driving the revival are orders for bulk carriers, tankers, and gas vessels. The increase in freight levels for existing vessels in gas, bulk and wet trades is helping the newbuilding boom. Experts are not sure why this continues to happen but the likelihood is it could last until the summer at the very least.
Paul Hopkins, Sales & Marketing Executive