EDITORIAL NO 011 | 2021

South Korean yards continued their remarkable run of success in early 2021 by signing orders worth about US$2 billion this week alone. VLCC oil tankers, gas carriers and petro chemical carriers were among the orders. More contracts are reported to be on the way for Korea including a billion dollar container ship project. A large ferry newbuilding is planned in Europe. In the naval sector, a big Asian deal for frigate construction moved forward. More banks have agreed to link loans to reduced pollution from new ships.