China leads rebound in 2021 newbuilding deliveries

News ID: 80543

Date: 27 April 2021 - 09:01

Deliveries from the world’s largest shipbuilding country to rise 41% from 2020 levels, which were negatively affected by the pandemic.

World fleet to grow by 3.4% annually until 2025, according to Lloyd’s List Intelligence latest monthly shipbuilding outlook

Accounting for scrapping, the world fleet is forecast to reach 2.66bn dwt by the end of 2025.

NEWBUILDING deliveries will average 2,300 ships a year to 2025, rising from a 26-year low seen in 2020, according to Lloyd’s List Intelligence’s monthly Shipbuilding Outlook.

Deliveries from Southeast Asian shipyards, which build more than 90% of the world’s ships, fell to almost half (by number) based on 2018 and 2019 levels. A total of 2,059 ships were launched in 2020, the April report said.

When measured in deadweight tonnes, 2020 deliveries of 92.3m dwt exceeded 2018 levels.

This year, deliveries are forecast to rebound to 114m dwt with 2023 numbers estimated at 110m dwt, because there are so many bigger ships in the orderbook.

The shipbuilding outlook tracks orders and deliveries that add to the world’s fleet of  129,000 vessels of 2.26bn dwt.  Bulk carriers and general cargo vessels comprise 44% of the fleet, with tankers at 33% and containership and ro-ro vessels at 13%.

Accounting for scrapping, the world fleet is forecast to increase by 3.4% annually over the next five years, reaching 2.66bn dwt by the end of 2025.

Dry bulk vessels comprise 96m dwt of the current orderbook of 4,884 ships totalling 268m dwt, followed by crude oil carriers at 69 million dwt and 34m for containerships, according to the report.

China accounts for more than 40% of orders and output, followed by South Korea and Japan. Deliveries from China are forecast to rise 41% this year, to 55m dwt, after the pandemic delayed construction in 2020, the report concludes.

That will be the highest output since 2012.

The report methodology covers all seagoing, trading ships of 100 gt and above, including fishing and barges.