Singapore based owners are set to take delivery of the highest number of vessels on record yet by the end of 2018. The previous record was in 2008 at the peak of the asset value spike. A large number of market participants have placed orders for a wide variety of ship types, and the chart below includes all major vessel segments from offshore to VLCCs.
There will be some slipping in these planned orders as market weakness persists in the tanker and offshore segments, but even with this considered 2018 should be a bumper year. Over 80 companies account for these orders, which reflects the rich maritime ecosystem of Singapore.
The orderbook outstanding in 2018 catapults the Lion City to the number two spot of expected deliveries this year and cements the role of the Republic as a key player in the global shipping markets in the years ahead. Singapore’s terminals are a critical hub for containerships, tankers, and dry bulk vessels.
Most major shipping businesses maintain a presence in the nation state which further enhances knowledge of the industry, which in turn encourages investment. The natural synergies that result from having so many key market participants will continue to drive interest new build orders in the years ahead. Singapore based owners will remain leaders in the shipping industry.
Press Release: vesselsvalue.com