Newbuild Cancellations on Rise
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Newbuild Cancellations on Rise

23 Feb 2010

More than 100 containership newbuild orders have been cancelled in the last 18 months due to efforts to slow fleet growth. Global ship owners have also asked shipbuilders to convert nearly two dozen ships to other vessel types, liner industry service provider Alphaliner said.

More than 100 containership newbuild orders have been cancelled in the last 18 months due to efforts to slow fleet growth.

Global ship owners have also asked shipbuilders to convert nearly two dozen ships to other vessel types, liner industry service provider Alphaliner said.

The containership cancellations account for 6.7% of the total orderbook as it stood in October 2008 before the market slumped, it said.

It is estimated that in the last 18 months 140 containership orders of 436,000teu have been cancelled.

Ships in the 1,000-1,999teu range account for the largest share of cancellations, with 54 orders axed, Alphaliner said.

Chinese shipyards have suffered the highest number of cancellations, with 43 contracts revoked, followed by German yards with 37, and South Korean yards with 26.

Free Report

COVID-19 Executive Briefing

Enter your details here to register for the event and receive your free report.

FREE REPORT: GlobalData’s 60-page COVID-19 Executive Briefing report will help you understand the COVID-19 outbreak, its economic impact, and implications for specific sectors.

By clicking the “Submit” button above, you accept the Terms & Conditions and acknowledge that your data will be used as described in the Arena Financial Privacy Policy.

We will also collect and use the information you provide for carefully considered and specific purposes, where we believe we have a legitimate interest in doing so, for example to send you communications about similar products and services we offer. We will always give you an option to opt out of any future communications from us. You can find out more about our legitimate interest activity in our privacy policy here. ‘We’ includes Verdict Media Limited and other GlobalData brands as detailed here.