Only nine orders in March

Amid global newbuilding order drought, just nine newbuilding orders were placed in March worldwide amounting to 0.2m cgt and 0.7m dwt . A total of 26 contracts of 0.5m cgt and 1.3m dwt have been reported in the first quarter 2009 which accounts for just 3% of those reported in the same period of last year.

Perhaps reflecting a shift towards niche sectors, half of all the vessels contracted so far in 2009 were specialized vessels, of which five were offshore vessels. Tanker sector saw most contracting activity, with eight contracts of 0.2m cgt and 0.7m dwt reported so far this year.

According to Clarkson Research Services’ latest report, the global newbuilding orderbook has shrunk for the eighth consecutive month. Starting its downward journey in August 2008, it now stands at 9,535 vessels of 182.2m cgt and 564.2m dwt. Since the start of 2009, the orderbook has decreased by 471 vessels of 9.8m cgt and 6.3m dwt. In vessel terms, this represents a fall in size of around 5% since the turn of the year.

The special vessel orderbook is made up of 3,969 vessels of 71.2m cgt and 101.6m dwt. In cgt terms it represents just under 40% of the total orderbook. However, in dwt terms it equates to only around 18% of the total orderbook. This is because these vessels are generally high-cgt and low-dwt. In this category, the offshore sector accounts for a quarter of all specialized vessels on order and over 10% of all vessels on order.

Meanwhile, in March, 88 vessels of 1.9m cgt and 5.7m dwt were reported as delivered. 30 tankers of 2.9m dwt were reported as delivered, of which 4 vessels of 1.3m dwt were VLCCs. There were also 17 bulkers of 1.5m dwt delivered. March also saw 20 containerships delivered, including the 13,200-teu “MSC DANIT” which was built at Daewoo Shipbuilding & Marine Engineering of South Korea.