Declining newbuild orders. Image Credit: VesselsValue
Newbuilding orders dropped to record lows in Q2 2019, according to data from VesselsValue.
Head Cargo Analyst, Olivia Watkins, said bulker newbuild orders lead the decline, down 73% for H1 2019 compared to the same period in 2018.
Tanker newbuild orders are down 47% for the period, while the container sector saw orders fall 49% compared to the six-month period last year.
LNG newbuild orders during 2019 H1, meanwhile, have fallen by 39% year-over-over.
Offshore, already quiet with just six orders placed during H1 2018, only saw a single order placed during the first half of 2019.
The full analysis by VesselsValue can be found here: https://www.blog.vesselsvalue.com/single-post/2019/07/03/Record-Low-Newbuild-Orders-Placed-in-Q2-2019