Volume of ship orders at highest levels seen since 2014

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Ship orders in the year to date are at the highest volumes seen since 2014 despite many owners having severe reservations about future propulsion methods. A total of 526 orders of 46.4m dwt and 34.6m gt have been reported so far according to data from Clarkson Research Services.

Much of this uptick has come from the surge in boxship orders, with 218 vessels of 2.2m teu and 22.9m dwt contracted in the year so far, propelling the boxship orderbook-to-fleet ratio towards the 20% mark. There has also been notable interest in LPG carriers, with 57 orders, according to Clarksons. Meanwhile, just 88 tankers and 81 bulk carriers have been ordered

Chinese and South Korean yards have taken the majority of orders in 2021 so far, each accounting for 46% of the global total in dwt terms.

Prices have also picked up sharply to levels not seen since 2014 (see chart below).

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