2024 has been a remarkable year for shipyards globally, marked by a surge in newbuild orders to levels not experienced since 2007. According to the latest data from Clarksons Research, newbuild contracting in the year to date stands at 62.6 million compensated gross tons (cgt) worth $190.2 billion, surpassing the volume ordered in 2013. This high level of activity reflects firm shipping markets, fleet renewal efforts, and increased competition for available yard slots amid extended lead times.
LPG carrier orders have hit a new high, and LNG carrier and tanker orders have remained steady. However, the container sector is the standout performer, setting a new record with 4.4 million teu ordered, surpassing the previous high set in 2021.
The dynamics of newbuild pricing and market trends were extensively discussed at the recent European edition of the Maritime CEO Forum held at the Monaco Yacht Club.
Given the continued strong demand across the shipping markets, SSY expects newbuilding prices to remain resilient against short-term fluctuations. Tim Huxley, head of Mandarin Shipping and moderated the event’s dry bulk session, emphasized that current prices are reaching unviable levels, especially when coupled with forward delivery quotes.