Investments in new ship orders have reached their highest level this year since the three-year period 2006-2008, when they reached an all-time high.
According to Clarksons’ data, the market has seen strong activity so far in 2024, with order volumes up 70% on the 10-year average.
In terms of investment value, the trend is even more pronounced, with 2024 already the fourth strongest year on record.
According to Clarkons’ data, in the January-September period the estimated value of new contracts reached 155 billion dollars, more than double (+127%) the 10-year average and already the highest total since 2008, when order values reached 180 billion dollars, compared to over 250 billion in 2006.
While strong order volumes are clearly an important factor, investment values were further boosted by a number of other factors.
The overall newbuilding price index has risen to 45%, above its 2021 starting level, and is now very close to its 2008 peak (in nominal terms – inflation-adjusted prices are still 30% lower).
Alternative fuels
44% of the capacity ordered so far this year (excluding LNG carriers) are alternative fuel-capable vessels, which adds significant additional CAPEX (prices for large LNG-capable containerships are, for example, around 30 million euros higher than for a conventional one).
