In recent years, there has been a notable surge in the number of companies investing in the market of newly built ships. According to the latest report from IHS, this trend has been particularly pronounced in Greece and China, with a 20% and 18% increase in companies entering this market, respectively, over the past 24 months.
Greece, known for its strong maritime tradition, with many shipping companies with vessels on order. The number has risen from 60 to 72 companies by May 2022, showcasing a growing interest in the sector.
Similarly, Chinese shipping companies have been actively expanding their presence in the market of newly built ships. With 130 companies investing in various ship categories by May 2022, a substantial 18% increase led to 153 companies being involved in this market.
The overall landscape has also witnessed a surge in global investments, with the total number of companies investing in newly built ships increasing by around 35%, reaching 512 companies by early June 2022 from 46 different countries.
As of early June 2024, the orderbook-to-fleet ratio according to IHS for bulk carriers, tankers, containers, and gas carriers stood at 9.3%, 10%, 20.3%, and 47.7%, respectively. This represents a significant increase compared to the previous year. The orderbook-to-fleet ratio for bulk carriers, tankers, and gas carriers has grown by 43%, 72%, and 48% respectively over the past two years.
Containership ordering, which faded in the second half of last year in line with falling rates, has roared back in 2024 with the onset of the Red Sea shipping crisis. In the year to date, 64 container ships have been ordered for a total capacity of 543,500 teu according to the latest data from Alphaliner.
Shipyards’ global orderbook currently stands at more than 133m compensated gross tonnes (cgt), an increase of 56m cgt compared to the orderbook’s most recent low in late 2020, according to shipping organisation BIMCO. LNG and containerships have accounted for respectively 35% and 30% of the increase.
According to the data a significant portion of Greek companies, 28% to be exact, have been responsible for a substantial 72% of the orders in this market. This underlines the growing influence and investment power of Greek shipping interests in the realm of newly built ships.
The maritime industry continues to grow, with Greece and China at the forefront of this wave of investments in newly built ships. As the sector experiences rapid growth and transformation, these developments mark exciting times ahead for the global shipping industry.
