In this year to the third quarter, global newbuilding orders were reported to be 1,307 vessels of a combined 82.70m dwt (30.20m cgt), increasing by 12% and 86%, each in numerical and dwt terms.

Of which, Clarkson Research said, bulker sector accounted for the largest proportion with 494 newbuildings of a combined 41m dwt while offshore-related vessels showed a 66% year-on-year decline in dwt terms.

Global newbuilding investment stood at $69.1bn as of the end of September, up by 2.3% compared to a year ago. A total of $13.1bn investment was made in bulker sector with $13bn invested in containership, $6.6bn in tanker, $6.9bn in LNG carrier, $2.9bn in LPG carrier, $2.5bn in cruise ship and so on. Offshore sector saw $22.1bn invested in FPSO, drillship, offshore supply vessel and etc.

During the same period, Japan posted $6.3bn new orders for 233 vessels of a combined 13.20m dwt, experiencing a 12% year-on-year increase in dwt terms while Korea received orders for 295 vessels of 27.20m dwt worth $30.4bn and China saw 579 ship orders of 36.80m dwt worth $21bn, each showing a rise of 136% and 140%.

With newbuilding order intakes surging this year, newbuilding prices are also showing an uptrend and Clarkson’s newbuilding price index recorded 129.5p as of the end of September, which is 0.8p up from the previous month.