Amid new orders for commercial ship sharply recovering, Clarkson’s newbuilding price index recorded 132.1p as of the end of November, up by 1.2P from 130.9P recorded a month ago, continuing uptrend for eight consecutive months since late March when 125.6p was posted.

However, the index still remains 30% lower than a historic high of 191p recorded in August, 2008, although it showed an increase by around 5% compared to early this year.

In this year to November, accumulated delivery recorded 101m dwt (34m cgt), or 1,817 vessels, decreasing by 32% in dwt terms, year-on-year, according to Clarkson Research.

Global shipbuilding industry was seen to stand on orderbook of 4,803 units, or 269m dwt (100m cgt), as of December 1, decreasing by 3.7% in numerical terms compared to early this year, however it showed 0.1% and 2.6% increases in dwt and cgt terms, respectively.

Meanwhile, while a demolition rate has slowed down since this year due to improving freight rates in shipping industry, rising secondhand vessel values and so on, 925 old vessels of a combined 41.90m dwt (average age of 27.3 years) were sent to scrapping facilities in this year to November that annual demolition is expected to amount to 45m dwt and decrease by around 22% from a historic high, 58.10m dwt (1,344 vessels, average age of 28.0 years) recorded last year.