Slowing growth in newbuilds as world adapts to new order

摘要

Shipping's fragile recovery from the crash of 2008 has been dealt a severe blow by the impact of the Covid-19 pandemic. Aside from the downturn in the offshore sector caused by dropping crude prices in 2015, shipping has generally been doing reasonably well in recovering from the economic downturn over the last decade. In the container sector, ship size has increased year on year so much so that even Maersk's 18,000TEU Triple E ships once seen as the pinnacle of container ship evolution now look decidedly outdated. Cruising was doing well with leading operators splashing out on new ships and the niche area of expedition cruising burgeoning as designers came up with ever more environmentally friendly designs. The more mundane types such as tankers and dry bulk had their ups and down but generally were doing quite well. In the space of a few short months all this positive news has dissipated. In early August, BIMCO's analysis of the world orderbook shows that new orders have reached their lowest level since 2003.