EDITORIAL NO 021 | 2022

Chinese and South Korean yards won more orders for container ships this week. A European company is set to order 8,000-TEU ships in Korea, while smaller feeder vessels are also in focus as the global container shipping boom continues. In addition, South Korea and China continued the order intake of gas carriers or gas bunkering vessels. Japanese shipbuilders were also reported to gain some orders. A deal was finalised in Europe to build freighters for extra-large loads with green credentials. German yards call for a reduction of world shipbuilding dependence on China, stressing European yards have not significantly benefitted from the recent surge in global newbuilding orders. South Korean yards face falling profits, as ships ordered with fixed prices in the past must be built with higher material costs.