DNV GL prepares for 2019 shipping upturn

With newbuilding orders down roughly 75% this year the chief of the world’s largest classification society Remi Eriksen says they are preparing for an upturn in the shipping industry in 2019.

News ID: 70173

Date: 08 November 2016 - 15:42

According to MANA, “This year of course there has been a massive reduction in the number of newbuildings orders being placed,” Eriksen, president and ceo of DNV GL, told Seatrade Maritime News on the sidelines of the recent Danish Maritime Forum in Copenhagen.
To date around 15 – 16m gt of newbuildings have been ordered this year, compared to 80 – 82m gt for the full year in 2015, so overall ordering in 2016 is expected to be just a quarter of the previous year. When it comes to the offshore rig space, where DNV GL the picture is even more grim with no orders at this year.
As most sectors of shipping grapple with severe overcapacity as to when Eriksen sees a recovery in ordering, “I think it will be 2019 until we see things getting better for many types of companies in shipping.