World orderbook recovers

Figures from Lloyd`s Register shows the world orderbook grew by 2.1 million gross tonnage (mgt) in the quarter to end-September 1998 to stand at 57.7mgt (2,727 sea-going merchant ships over 100gt). Almost 8.5 mgt of new orders were reported in the quarter, lifting the orderbook by nearly 4 per cent against the previous quarter, and giving a 7.2 mgt increase over the same quarter last year.

The figures show Japan pulled slightly ahead with almost 35 per cent (20.1 mgt) of the world orders, while Korea`s total orderbook stands at 18.9 mgt, (representing 33 per cent).