Shipbuilding Industry Makes a Soft Landing

BIMCO
Wednesday, May 15, 2013

The  landing has been cushioned by a shift in orders from mainstream-type merchant ships towards specialised offshore segment support vessels.

According to the BIMCO analysis the shipyard industry seemed to head straight for the output-abyss just 15 months ago. Today the transition from recent years' record high shipyard output to a more sustainable level of output appears to soft-land with global shipyard output clearly slowing down. This BIMCO analysis compares data from December 2011 with data from March 2013, representing a remarkable turn for the shipyard industry.



An integrated part of this soft landing is the evidence of the shifting focus on shipping segments away from the mainstream merchant vessels like dry bulk, tanker and container ships towards the work vessels that primarily serve the offshore oil industry.



Over the past years more and more “ship finance” has ended up being in the support of the offshore industry. This is evident from the fact that the offshore orderbook is the only one which is higher today as compared to 15 months ago. The offshore orderbook includes: FPSO/FSO, drilling ships, offshore support vessels, AHTS, platform supply vessels etc.

The BIMCO research report adds that moreover, there is also a clear trend in sizing up and focus on larger ship types for the new orders placed in the offshore segment. The fact that numbers are “only” up by 20% whereas the capacity, as measured in terms of Compensated Gross Tonnage (CGT), is up by 42% illustrates most of all the large appetite for sophisticated tonnage like FPSO/FSO (+83%) and drilling ships (+75%).The combined force of FPSO/FSO and drilling ships is representing 72% of the offshore orderbook today, up from 51% in December 2011.

Chief Shipping Analyst at BIMCO, Peter Sand, says: “While the shipyard overcapacity remains considerable, the excess capacity is being redirected towards other segments, [i.e.] the offshore oil industry.  In the perspective up to 2020, every indication points in the direction of a soft landing for the yards in terms of how they fill the excess newbuilding capacity. The shipping industry, on the other hand, will continue to be impacted by the overhang of tonnage for at least a few more years.”

Source: BIMCO

 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

MN 100: ContainerTug B.V.

The Company: ContainerTug B.V. is a specialized Dutch naval design engineering and construction company with a strong focus on developing workboats and the evaluation

Oman Drydock Company Expands Rapidly

Oman Drydock Company (ODC) is growing fast. In January, the yard hit an important milestone - its 300th drydocking. Harnessing the power of its new $1.8 billion, 1.

NASSCO Invests in Facilities, Equipment and People

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including:

Finance

TASI Acquires SignalFire Telemetry

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition

DP World Profit Up 22%

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015,

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

 
 
Maritime Contracts Maritime Security Naval Architecture Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.7393 sec (1 req/sec)