VV: Newbuilding Orders Plunge in H1 2017

Image Courtesy: DSME

Although newbuilding orders for tanker and bulkers increased during the first half of 2017, the overall number of orders placed has more than halved when compared to the same period in 2015, according to data provided by VesselsValue.

A total of 245 new orders were placed so far this year, against 594 new ships ordered in the first half of 2015. When compared to the same period in 2016, the new contracts slightly decreased from the 254 new ships ordered a year ago.

Owners’ appetite for tankers was apparent as this type of vessel was in the lead with 145 orders out of the 245 newbuilding deals. Tankers were followed with 70 bulker orders, while LPG ships took the third place with a mere 16 orders. The containership market saw 10 new orders, while only four vessel orders were added to the LNG sector.

In comparison, bulkers were in the lead during the first half of 2015 with 229 orders, followed by 181 new tankers deals. Containerships took the third place with 90 new orders. The LNG sector was more active in 2015, with 26 new ship orders placed during the first half, followed by the LNG sector with 18 new ships.

The plunge in shipbuilding orders was also noticeable in the offshore sector. There were 50 offshore vessels ordered in the first half of 2015 compared to a complete lack of offshore orders during the first six months of this year.

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