EDITORIAL NO 016 | 2020

The world shipbuilding market remains in the grip of the coronavirus economic shutdown, but some shipowners are taking advantage of low prices to place big orders. A large contract was placed in South Korea to build two very large crude carriers (VLCCs) which will unusually be powered by liquefied natural gas. A liquefied petroleum gas carrier order was placed in Japan. In the naval sector, Iran is said to be planning construction of its first home-built destroyer. But in the offshore sector, the collapse in oil prices following the coronavirus is causing major construction projects to be delayed.