Global newbuilding order, from July 30 to August 3, has dropped.
According to China's mysteel.com, during the period, a total of 25 newbuildings were contracted, down by 24 vessels on previous week.
Among them, Chinese shipyards only bagged two newbuildings - one cruiseship and one tugboat ordered by compatriot owners - which had been down by two vessels from the earlier week.
Korean shipbuilders overcame depression from the previous week and inked the largest orders of 19 newbuildings, followed by European shipyards.
Japan still seems to go through a difficult time.
Chinese shipyards are more likely to offer lower newbuilding prices, amid a stagnant marine thick-plate market and plummeted newbuilding order.