CMA CGM, COSCO and Hapag-Lloyd announce further orders Ship’s crew

Owners of tankers and bulk carriers, who think that one or the other shipyard space could open up if liners and gas tankers place fewer orders, have been given food for thought.

Maersk Broker reports that CMA CGM and Hapag-Lloyd have approached several Korean shipyards for 10 and six 4,000-teu methanol dual-fuel vessels, with Hyundai Mipo Dockyard standing as the frontrunner.

Meanwhile in China, Maersk Broker is reporting that COSCO will field a new series of 16,000-teu methanol dual-fuel vessels at affiliated shipyards. Last October, the Chinese shipping company ordered a dozen 24,000-TEU dual-fuel methanol vessels from NACKS and DACKS, two shipyards the company operates with Kawasaki Heavy Industries.

The incredibly distorted global order book continues to throw up all sorts of records, with long-term implications for key shipping segments.

According to Clarksons Research, the order book for boxships was larger than the order books for tankers and bulkers in dwt for the first time in July last year.

The container backlog as a percentage of the current fleet is 29.5%, according to Clarksons, with only the LNG sector having a higher backlog-to-existing-fleet ratio.

LNG orders have been at record levels this decade and it seems little is easing in this lucrative sector for shipyards.

Broker BRS, which will publish its annual review tomorrow, notes that another 168 LNG tankers will be needed over the next seven years, equivalent to 24 vessels on order per year, to meet the theoretical and observed 5% annual increase in LNG demand cover up. This forecast takes into account the current order book, the scrapping of ships as they reach old age and the conversion of LNG tankers to FSU/FSRU/FLNG.

According to broker Braemar, 2021-22 was the busiest time for the global shipbuilding industry since the 2006-08 and 2013-15 booms. Therefore, the forward coverage of the major shipyards now extends well into 2025-26.

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