The newbuild orders hit their highest level since 2014. Taking into account the delayed report of orders and other factors, it is expected that the number of orders for the whole year of 2021 will exceed 1,600 ships.
Back in October, South Korean Shipping companies are temporarily ranking first in the world in terms of the new ship market. 26 new ship orders of 1.12 million CGT, which accounted for 52% of the global new ship market, are awarded to South Korean Shipping.
After several orders have been awarded in the last two months, the Chinese shipyards still take first place, accounting for 49% of the newbuild ship market.
The newbuild vessels target to green and efficient performance
The newly signed order in 2021 is the highest level since 2014. In the first 11 months of this year, a total of 1,561 new ships were signed globally with 44.21 million CGT.
Both shipyards in China and South Korea keep their docked busy since the beginning of 2021. The global ship constructions have been on track and delivered on time. In the first 11 months of 2021, a total of 1,365 new ships, totaling 79.94 million DWT, have been delivered.
Due to the substantial increase in new ship orders, the scale of global hand-held orders has also increased. As of December 1, global orders for 3,313 ships, totaling 90.07 million CGT, increased by 17% from the level of orders held at the beginning of the year.
In 2021, the global shipbuilding industry realized the growth of dual-fuel newbuilds, using clean and renewable energy as alternative fuels. The newly signed series of environmental protection plans show that the shipping industry is continuously accelerating its green transformation.
As concluded, In 2021, China, South Korea, and Japan accounted for 49%, 38%, and 9% of the newly signed orders in terms of CGT respectively.