EDITORIAL NO 010 | 2023

European yards again won orders for offshore wind farm vessels this week, with newbuilding deals reported in Norway and Spain. Chinese orders also included a wind farm installation vessel along with bulk carriers. Japan won a US$ 135 million boxship contract, and South Korean orders included tankers. But new estimates say world merchant vessel newbuilding orders placed in February 2023 fell about 25% on the same time in 2022. In the naval sector, a major order is looming for Europe from North Africa, while an Asian contract for training vessels worth US$ 388.4 million was awarded. A US$ 66 billion naval vessel deal is also expected to be announced in the coming days.