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Ship orders hit record highs not experienced since 2007

Ship orders hit record highs not experienced since 2007

Posted on December 17, 2024   |  

Shipyards are experiencing a record year, with contract volumes reaching the highest since 2007 and prices close to record levels.

Year-to-date newbuild contracting has reached 62.6 million compensated gross tons (cgt) worth $190.2 billion, surpassing 2013’s volume and the highest annual level since 2007.

Ordering in 2024 represents 7% of the starting fleet in deadweight tonnage (dwt), over 50% higher than the annual average since the financial crisis, according to Clarksons.

LPG carrier orders have reached a new high, and LNG carrier and tanker orders are strong. The container sector is the largest spender this year.

With just two weeks left in the year, the 2024 contracting volume has reached around 4.4 million TEU, setting a new record compared to the previous high of 4.3 million TEU in 2021.



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