Global newbuilding orderbook, which jumped over 200m cgt in 2008, has been cut halved to below 100m cgt.
According to Clarkson, as of August 3, global backlog is estimated to be 96.7m cgt (4,888 vessels), which has fallen below 100m cgt and 5,000 vessels for the first time since May 2005.
Orderbook plummeted, in numerical terms, by 56% from 11,272 vessels at the same period of 2008 and by 17% from 5,896 on early 2012.
Since global financial crisis in the end of 2008, global shipbuilding industries has been facing downturn and declinging orderbook.
Korean shipyards secured 30.31m cgt (891) of orders on the book, as of August 3, almost hitting bottom over the last eight years. Also, Chinese shipbuilders saw their orderbook having decreased to 35.22m cgt (1,965).
Moreover, as top major shipyards in Korea and China, etc., are also having problems with dropping orders.