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opening excerpt
EXECUTIVE SUMMARY, 1
GENERAL REVIEW AND OUTLOOK, 3
SHIPBUILDING, 9
CONTAINER, 17
CRUDE TANKERS, 25
PRODUCT TANKERS, 34
CHEMICAL TANKERS, 43
LPG TANKERS, 50
DRY BULK, 58
GLOSSARY, 67
TABLE OF CONTENTS
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
THIS REPORT REVIEWS KEY DEVELOPMENTS IN SHIPPING
MARKETS AND THE MAIN SHIPPING SEGMENTS DURING THE
PERIOD FROM JANUARY 2012 TO SEPTEMBER 2012 AND
INDICATES POSSIBLE FUTURE MARKET DIRECTIONS.
SHIPBUILDING
Shipyards’ order cover continues to decline as more tonnage is
being delivered than contracted. In 2012, the global order
cover fell by 20% to 19 months. Only 30% of global yard
capacity has been in demand during 2012 as 13 million cgt
was contracted. Capacity has started to adjust. We estimate
that 4% of the global yard capacity will close or at least
become inactive in 2012. The remaining yards delivered on
average 75% of the orders as scheduled during the period.
While large yards delivered 96% of their orders, small and
medium-sized yards struggled to meet their delivery
schedules. In 2013 and 2014, many yards will be running out
of orders. Small and medium -sized Chinese yards appear to