Prices for new ships have fallen to an eight-year low as shipyards sacrifice profits to win orders.
Global ship orders dropped 53 percent in the first nine months of this year to 31.1 million dwt, according to brokers Clarkson Plc. The shipbroker’s ship price index, which tracks the value of all vessel types, has dropped 7.9 percent this year to 128 in September. That is the lowest since February 2004. The average price for container ships has dropped 39 percent this year to US$11,682 per dwt tonne in October 2012, according to Clarkson. For bulk carriers, prices are down 7.6 percent to US$462.87 a dwt tonne.