In this year to October, accumulated global newbuilding orders totaled 35.56m cgt, increasing sharply by 74% year-on-year.

Clarkson Research survey said that new orders placed in full October amounted to 3.16m cgt, of which, Chinese yards won 1.80m cgt, beating Korean rivals’ 550,000 cgt, by a large margin.

Newbuilding market of this year has experienced active new orderings in general commercial ship sector, for instance, greatly increased orders for bulker and containership together with stably continuous orders for product carrier (PC) and so on, compared to last year that performance of Chinese yards has been pretty notable.
In full October, Chinese shipbuilding industry saw that state-owned and CSSC-affiliated Shanghai Waigaoqiao Shipbuilding (SWS) was awarded two 208K bulkers with another two units of 180K bulker while Chengxi Shipyard winning several 64K/39K bulker series with Guangzhou Shipyard International (GSI) putting pens on eight MR PCs.

Private-owned Yangzijiang Shipbuilding inked large orders, such as five 10,000 teu containerships, four 208K VLOCs, seven 82K bulkers, three 64K bulkers and so on and another private-owned builder New Times Shipbuilding scored a contract for two 180K bulkers. Also, large orders for 61K bulker series were placed at Nantong COSCO KHI Ship Engineering (NACKS) and five 82K bulkers were ordered at Jiangsu Hantong Ship Heavy Industry. In addition, Taizhou Kouan Shipbuilding won one 64K bulker while Taizhou Sanfu Ship Engineering inked a contract to build 10 2,400 teu containerships.

Moreover, Nantong Mingde Heavy Industry won seven 24K chemical tankers and Sinopacific Offshore & Engineering inked contracts for four 17K LPG carriers plus three 22K LPG carriers while Xiamen Shipbuilding Industry inked a PSV order. Samjin Shipbuilding Industries, Korean shipbuilder based in Weihai, China, contracted for construction of four 50K chemical tankers.

Last month, Korea showed a new order performance mainly focusing on high-value added vessels, such as gas carrier, PC, drillship and so on. Hyundai Heavy Industries was awarded four 150K LNG carriers while Hyundai Samho Heavy Industries won two VLGC newbuildings and Daewoo Shipbuilding & Marine Engineering signed new deals for three drillships and three 10,500 teu containerships.

Hyundai Mipo Dockyard bagged new orders for 20 MR PCs, six 37K chemical tankers, five 12K LPG carriers and etc., while Hanjin Heavy Industries & Construction and Sungdong Shipbuilding & Marine Engineering won six 180K bulkers and two LR2 PCs, respectively.

At this point of time when newbuilding prices hit the bottom and start to recover, Korean shipbuilders are seen to push ahead with selective contracts catching their breaths since they already accomplished considerable amount of each own yearly order aim for this year.