According to data released by Clarkson on December 6, the global ship orders in November reached 3.87 million CGT (compensated gross tonnage), totaling 124 ships. This represents a 37% increase compared to October’s 2.82 million CGT and a 20% increase compared to November of last year’s 3.22 million CGT.
By country/region, China held the largest share, receiving orders for 2.36 million CGT (73 ships) in November, accounting for 61% of the market. South Korea followed with 1.14 million CGT (24 ships), accounting for 29% of the market.
In the first 11 months of this year, Chinese shipyards accumulated orders totaling 41.77 million CGT (1,518 ships), capturing 69% of the market, while South Korea shipyards cumulative orders were 10.92 million CGT (248 ships), holding only 18% of the market.
As of November, global outstanding orders decreased by 490,000 CGT from the previous month, down to 152.23 million CGT. China’s outstanding orders amounted to 86.56 million CGT (57%), while South Korea’s outstanding orders were 37.77 million CGT (25%). Compared to the same period last year, China’s outstanding orders increased by 22.08 million CGT, while South Korea’s decreased by 1.45 million CGT, further widening the gap between Chinese and South Korean shipbuilding industries.
By the end of November, the Clarkson Newbuilding Price Index stood at 189.18, down 0.46 from the previous month’s 189.64. By ship type, the price of a liquefied natural gas (LNG) carrier was $260 million, a very large crude carrier (VLCC) was $129.5 million, and an ultra-large container ship (22,000~24,000 TEU) was $275 million.