Shipbuilding industry to rebound in 2018
Published : Oct 17, 2016 - 11:18
Updated : Oct 17, 2016 - 11:18
[THE INVESTOR] The global shipbuilding industry’s slump is expected to continue into next year before a recovery in 2018, a report showed on Oct. 17.

According to the report by global research firm Clarkson Research Services, this year’s new ship orders around the globe are estimated at 586 vessels, but the comparable figure for next year will be 790.

Over the past 20 years, global shipbuilders received an annual average of 2,200 new ship orders.

“If Clarkson‘s forecast is correct, the global shipbuilding sector will have another tough year,” said an industry source.

The market researcher forecast that orders for an estimated 1,300 ships are expected to be placed in 2018, and the number may rise to 1,667 in 2019 and 1,869 in 2020.

Clarkson said demand for oil tankers will not be feeble next year, despite the current increased supply of new ships. Demand for container ships will improve, while that for LNG carriers is expected to remain firm on a slew of big projects, it said.