EDITORIAL NO 011 | 2023

This week saw a big return to gas carrier orders, with contracts worth hundreds of millions of dollars reported. South Korean yards won a series of separate orders for liquefied natural gas (LNG) carriers worth a combined total of over US$ 860 million. Chinese yards had a busy week with deals worth US$700 million for product carriers for Europe, a large contract for environmentally friendly vehicle carriers, plus oil tanker and bulk carrier business. Orders for 10 large container vessels ready for methanol and ammonia were revealed by an Asian shipping company. In the naval sector, details of a long-awaited US$ 245 billion submarine deal with Australia were announced by the U.S. and Britain.