Using VesselsValue data, George Delaney, Cargo Analyst, has highlighted the various factors that influenced the Newbuild market of 2021, including movement restrictions during lockdown, geopolitical uncertainty and the ongoing shift towards greener shipping. This article looks at the impact of Covid-19 on global vessel orderbooks, and how the everchanging landscape of trade and consumerism will shape the future for Newbuilds.

“1,286 vessels were added to the orderbook in 2021, a 32.7% increase from the 969 vessels ordered in 2020. This is paired with an extraordinary growth in price for certain vessels. 2020’s total orderbook was worth USD 42.83 bil, compared to 2021’s USD 91.61 bil, a staggering 114% increase.

Yearly Newbuild Orders by Number of Vessels.

As expected, the large majority of vessels ordered in 2021 are to be constructed at yards in China, South Korea and Japan. The number of vessels confirmed in these three countries totals 1,217; 682 in China, 391 in South Korea and 144 in Japan. Other notable builder countries are Vietnam and India, with 21 and 12 vessels respectively.

2021’s boxship orders amounted to USD 43.39 bil, 47.4% of the year’s total and surpassing the entire Cargo fleet orderbook value of 2020. Asia accounted for the majority of 2021 Containership orders, with Taiwan, China, Singapore, South Korea, and Japan ordering 314 vessels between them, 65.8% of the global total…”

Marex Media