Shipyards focussing on conventional-design larger vessels have been hit hardest this year as new orders for such ships plummet.
Clarkson Hellas said, "With shipyards in the major exporting regions all reporting and exhibiting significant year on year drops in new contracting activity, there is no doubt that the market continues to remain challenging, particularly for the larger and more conventionally orientated facilities.
"With conventional demand so far being focused primarily on the mid‐sized segments of the market, those yards geared up for the larger spectrum of asset class have found 2012 a struggle."
This year, newbuilding orders for large ships such as capesize bulkers, very large crude tankers and ultra-large boxships over 10,000 TEU class have plunged dramatically.