Sad news for European shipbuilding came this week with the insolvency declaration by one of Germany’s largest shipbuilding groups, threatening around 2,000 jobs. Asian newbuilding orders were active. Chinese yards won over US$1 billion of contracts for gas carriers. South Korea won US$1.5 billion worth of container ship and gas carrier contracts, with separate orders placed by shipping companies in Europe and Latin America. In the naval sector, Denmark and Ukraine agreed cooperation to build patrol vessels while the U.S. approved more destroyer construction.