Highest Level Of Newbuild Deliveries Expected For Singapore Owners – VesselsValue
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
Shipping News You Would Like:
Latest Shipping News You Would Like:
Australia To Spend $1.5 Billion To Upgrade Its Maritime Surveillance
World’s Largest Aircraft Carrier USS Gerald R. Ford Docks In Trieste
First National Security Multi-Missions Vessel, the Empire State VII, Arrives In New York
Brazil’s Navy Seizes 3.6 Tonnes Of Cocaine, The Largest Offshore Drug Capture By Brazil
Crude Oil Tanker To Pay ₹88 Crore For Damaging Haldia Oil Jetty Or Face Arrest
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.