In October, the demand for new ships fell somewhat, with 85 new ship orders signed worldwide and 5.79 million dwt, a month on month decrease of 41.5% and a year-on-year increase of 3.7%. From January to October, a total of 1585 new ship orders with 110.08 million dwt were signed worldwide, with a year-on-year increase of 156.1%. On the whole, the global shipbuilding market will be good in 2021, and the annual trading volume of new ships is expected to reach 120 million dwt.

The main ship type market is improving

In terms of container ships, from January to October, 508 new ship orders with 43.54 million dwt were signed worldwide, with a year-on-year increase of 841.6%. The specific orders include 1.92 million container ships, 148 medium-sized container ships and 168 feeder container ships. In terms of bulk carriers, 371 new ship orders of 33.18 million dwt were signed globally from January to October, with a year-on-year increase of 109.0%. The specific orders include 71 Cape of good hope ships, 119 Panamax ships, 88 big handy ships and 64 small handy ships. In terms of oil tankers, from January to October, 189 new orders of oil tankers with more than 10000 tons and 21.24 million deadweight tons were signed worldwide, with a year-on year increase of 24.3%. The specific orders include 33 VLCC, 11 Suez oil tankers, 47 afra oil tankers and 98 small and medium-sized product oil tankers. In terms of liquefied gas ships, 158 new ship orders and 9.47 million dwt were signed globally from January to October, with a year-on-year increase of 48.5%, including 56 large LNG ships, 55 vlgc and 47 small and medium-sized liquefied gas ships.

New ship prices continued to rise

In October, the Clarkson new ship price index closed at 152.3 points, up 3.2 points month on month and 26.7 points year-on-year. From the perspective of main ship types, the Clarkson new ship price index of bulk carriers, oil tankers, container ships and liquefied gas carriers were 160.1 points, 179.4 points, 96.0 points and 155.7 points respectively, up 1.9 points, 0.9 points, 0.6 points and 0.4 points month on month respectively; Year on year increases of 36.8 points, 34.6 points, 20.1 points and 21.8 points respectively. From the perspective of typical ship types, the new ship prices of typical ship types have increased steadily, and the new ship prices of VLCC and large LNG ships have reached the high level of US $108 million and US $203 million respectively.

The main ship type market is improving

In terms of container ships, from January to October, 508 new ship orders with 43.54 million dwt were signed worldwide, with a year-on-year increase of 841.6%. The specific orders include 1.92 million container ships, 148 medium-sized container ships and 168 feeder container ships. In terms of bulk carriers, 371 new ship orders of 33.18 million dwt were signed globally from January to October, with a year-on-year increase of 109.0%. The specific orders include 71 Cape of good hope ships, 119 Panamax ships, 88 big handy ships and 64 small handy ships. In terms of oil tankers, from January to October, 189 new orders of oil tankers with more than 10000 tons and 21.24 million deadweight tons were signed worldwide, with a year-on-year increase of 24.3%. The specific orders include 33 VLCC, 11 Suez oil tankers, 47 afra oil tankers and 98 small and medium-sized product oil tankers. In terms of liquefied gas ships, 158 new ship orders and 9.47 million dwt were signed globally from January to October, with a year-on-year increase of 48.5%, including 56 large LNG ships, 55 vlgc and 47 small and medium-sized liquefied gas ships.

New ship prices continued to rise

In October, the Clarkson new ship price index closed at 152.3 points, up 3.2 points month on month and 26.7 points year-on-year. From the perspective of main ship types, the Clarkson new ship price index of bulk carriers, oil tankers, container ships and liquefied gas carriers were 160.1 points, 179.4 points, 96.0 points and 155.7 points respectively, up 1.9 points, 0.9 points, 0.6 points and 0.4 points month on month respectively; Year on year increases of 36.8 points, 34.6 points, 20.1 points and 21.8 points respectively. From the perspective of typical ship types, the new ship prices of typical ship types have increased steadily, and the new ship prices of VLCC and large LNG ships have reached the high level of US $108 million and US $203 million respectively.

Figure 2. Clarkson new ship price index

China remains the industry leader

According to Clarkson's statistics, from January to October, Chinese shipyards signed 55.07 million dwt orders for new ships, an increase of 155% year-on-year, and the global market share was 50%, continuing to take the lead; South Korean shipyards signed new ship orders of 38.5 million dwt, a year-on-year increase of 235%, with a global market share of 35%, ranking behind China; Japanese shipyards signed new ship orders of 11.21 million dwt, with a year-on-year increase of 44% and a global market share of 10%.

Li Fangmin and Zhang Miao, economic research center of China Shipbuilding Group