There are 1,966 vessels which have deliveries dates scheduled for 2018. However only 1,100 have hit the water so far this year, meaning 44% of the ’18 orderbook is outstanding.
Out of the three top shipbuilding countries, China still has 50% of their 2018 orders to deliver within the last two months of the year. Compared to Japan and South Korea, where 25% and 28% of their respective orderbooks is currently outstanding, Chinese yards could potentially slip 446 vessels into next year’s delivery schedule.
Ship types with the highest number of outstanding 2018 scheduled deliveries include all offshore vessels types (MODUs at 75% 2018 vessels still to be delivered, OSV 69%, OCV 67%) and the Small Dry sector at 54%.
Globally Greece has taken delivery of 72% of all orders scheduled for delivery in 2018, however overall ordering levels have been steadily declining over the last 5 years. Greek owners remain highly aware of the state of the shipping markets and the progression of the shipping cycle. Decades of experience in the modern tanker and large bulk carrier markets have given owners an instinctual feel for timing fleet renewal.
If all vessels scheduled for delivery in 2018 hit the water, Greece will increase their fleet by a total of 85 tankers, the highest tanker scheduled delivery level since 2010 when 98 vessels hit the water in a single year. On the other hand, Greek Dry Bulk deliveries have reduced to only 30 orders for 2018, the lowest level on record.