New ship orders reach peak in August

According to a study by Clarkson Research Services, global new shipbuilding orders in August have hit a new monthly record for 2009.

The study claims that orders in the first three weeks of August stood at just 552,000 dwt worldwide but they jumped in the fourth week, bringing the total new contracts signed in the month to 6.132 million dwt, which is the highest monthly record of this year exceeding July’s figure of 6.107 million dwt.

Orders in August include six 320,000 dwt class large crude carriers at Shanghai Waigaoqiao Shipbuilding, part of China State Shipbuilding Corporation. Chinese shipbuilders accounted for 71% of the entire orders in August while South Korean shipbuilders made up 26%.