Vessel deliveries typically slow down towards the end of the year. If shipowners wait a few weeks, allowing the delivery to slip into the new year, the vessel is considered a whole year younger. Many sectors can expect a higher proportion of the order book to hit the water in future years.
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 order book 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 order book 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%.