EDITORIAL NO 007 | 2023

The continued concern about slack growth in the world economy are still keeping newbuilding orders well below volumes seen this time last year as investment decisions were postponed. But some big business was seen in the container ship sector. South Korean yards shared a US$1.1 billion order for environment-friendly boxships. In China and South Korea, talks are in the final stages about a US$900 million container vessel deal. South Korea also won a US$246 million contract for a gas carrier. Other Chinese orders included tankers, bulk carriers, and a refrigerated cargo ship. Japan won orders in the chemical carrier and bulk sectors. Iran has won an unusual deal to build tankers.