The Clarkson newbuilding price index, which has fallen during the last 15 consecutive months by September of this year, has finally made an upturn at the end of October. 
According to Clarkson Research Services, the newbuilding price index stood at 127.2 points as of the end of October 2012, increased from 126.8 points at the end of September.
But this represents a 8.5% decline in the value of the newbuilding price index during the first ten months of 2012. Containership benchmark newbuilding prices dropped by an average of 18% since the end of October 2011, while bulker and tanker benchmark prices fell by 8% and 5% each.
Meanwhile, a total of 879 vessels of a cumulative 35.2m dwt, 16.8m cgt have been ordered during the first ten months of this year, which represents around 51% year-on-year fall in dwt terms.
The estimated value of investment in new orders during January-October period totalled $66.3bn, down by 26% year-on-year.
Chinese shipyards contracted 16.1m dwt or 6.1m cgt, totalling $12.8bn, comparing with Korean shipyards having inked 11.1m dwt or 5.7m cgt, totalling $24.6bn. Japanese and Brazilian shipbuilders booked 6.2m dwt or 2m cgt, amounting $4.1bn, and 0.6m dwt or 0.8m cgt, totalling $13.5bn, respectively.
Although the number of tanker contracts fell by 17% year-on-year by October this year, the volume of tanker tonnage ordered has increased by 21.2% year-on-year, in dwt terms. Particularly, 13 VLCCs have been ordered, compared to three VLCCs in the full year 2011.
A total of 10 VLGCs have been ordered by October this year, with 20 VLGCs now on order.
During the first ten months of this year, overall 2,133 vessels of a combined 136.7m dwt and 40.5m cgt have been delivered. Bulker deliveries account for 65 in dwt terms and 51% in cgt terms of total global deliveries, while total boxship deliveries have increased year-on-year by 5% in teu terms, having risen up to 1.09m teu in 2012.
Shipyards in Korea, China and Japan have delivered a total of 128.2m dwt, accounting for 94% of global deliveries. In case of Japan, overall 26.3m dwt have entered the fleet and proportion of bulker segment grew up to 83% this year from 70% in 2011.
At the end of October the global newbuilding orderbook stood at 4,729 vessels of a cumulative 267.9m dwt and 94.3m cgt, the lowest number of vessels on the book since January 2005, when 4,195 vessels were on the book.
Meanwhile, overall 1,053 vessels of a cumulative 48.9m dwt have been sold for scrap during the first ten months of this year, which is already the largest annual amount of tonnage sold for demolition during any year on record.
The average age of vessels sent for demolition this year has been 28.1 years, 9% younger than those recycled last year. The average age of the eight VLCCs scrapped from January to October stands at 20.9 years.