Orders Drop News

Newbuild orders for tankers and bulkers have increased during the first half of 2017, though overall the number of orders placed in all vessel segments has more than halved when compared to the same period in 2015, according to VesselsValue.   The most glaring example is in the offshore vessel sector: 50 offshore vessels were ordered in H1 2015, compared to zero orders during H1 2017.   Similarly, orders for newbuild containerships, LNG carriers and LPG carriers declined respectively from 90, 26 and 18 in H1 2015 to 10, 4 and 16 in H1 2017.

South Korean shipbuilding orders drop 58.6 percent through September 2012. South Korean shipbuilding orders dropped 58.6 percent for the first nine months of this year due to the persistent recession in the global shipbuilding industry, a government report reveals. The drop was attributed to the recession in the global shipbuilding industry. Global shipbuilding orders declined 48 percent to 14.34 CGT over the cited period due to an oversupply of ships and the prolonged global eaconomic slowdown, the report adds that demand for container ships and bulk carriers contracted sharply, informs Xinhua. Despite the global slump, South Korea kept its position as the world's No.1 shipbuilding country with the market share of 36.3 percent.

Japanese export ship orders fell 8.5 percent in June from a year earlier, reveal figures by the Japan Ship Exporters’ Association (JSEA). Japanese export ship orders fell 8.5 percent in June from a year earlier to 499,370 gross tons, according to figures released by the Japan Ship Exporters’ Association (JSEA). The 8.5 percent decline in June was the third straight monthly drop year on year and was significantly slower than the 43.5 percent drop in April and 44.6 percent in May, reports 'Malaya Business Insight'. Industry watchers attribute the decline to shrinking demand for new vessels from shipowners, coupled with growing competition from shipyards in South Korea and China.

New orders received by South Korean shipbuilders dropped 34.1 percent in the first seven months of this year versus the same period last year, provisional figures from the Korea Shipbuilders' Assoc. claim. Orders in the seven-month period reached 3.84 million gross tons (GT) for 80 ships, compared with 5.82 million GT for 103 ships in the same period a year earlier.

Japanese shipyards received foreign orders for 21 vessels totaling 581,100 GRT in July, down 39.6 percent from a year before, the Japan Ship Exporters' Association said. In all, 19 orders were for bulk carriers and two for freighters.

New foreign orders received by South Korean shipbuilders fell 15.7 percent in the first nine months of this year from a year ago, provisional figures from the Korea Shipbuilders' Association show. Orders in the nine-month period totaled 5.8 million gt for 110 ships, compared with 6.9 million gt for 121 ships in the same period a year earlier. New orders received in September alone totaled 1.2 million gt for 16 vessels. It did not give comparable 1998 figures. Backlogged orders at South Korean shipbuilders stood at 19.4 million gt for 310 ships at the end of September versus 19.4 million gt for 309 vessels a year earlier, the association said.

New orders received by South Korean shipbuilders dropped 6.7 percent in the first 10 months of this year from a year ago, provisional figures from the Korea Shipbuilders' Association showed. Orders in the 10-month period totaled 7.98 million gt for 145 ships, compared with 8.56 million gt for 145 ships in the same period a year earlier, the association said. New orders received in October this year totaled 2.18 million gt for 35 vessels, it said. Ships completed in the January-October period amounted to 7.96 million gt for 140 ships this year, up from 6.36 million gt for 127 ships in the same period a year before, the association said. South Korea's backlogged orders at the end of October totaled 21.18 million gt for 336 ships, it said.