Industry News

Booming container market helps fuel shipbuilding recovery

The recent uptick in newbuilding activity came on top of recovery of the container sector from Q4 2020 onwards,reports Hellenic Shipping News Worildwide Forthcoming emssion requlatons have also contributed to owners deciding to order new ships
Another factoris that major yards such are beginning to handle Qatar Gas'mega-order for liquefied gas vessels to replace its existing fleet. 

The end result is that newbuilding slots across major yards have flled up incredibly quickly Owners are expected to struggle to find slots for large ships to be delvered by 2024.The compettion for yard space has driven up newbulding prices, wth vessels 30 per cent more expensive than they were 12 to 18 months ago. As aresult owners are facng an economic challenge, with a question surrounding why order a vessel that wll be expensive and not bult for several years.

There's also interest in the use of methanol, ammonia and biofuels,and concerns and questions around these fue'ls Thats why 2022 and 2023 promise to be interesting with fuel options chosen by owners for their newbuildings
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