EDITORIAL NO 022 | 2021

Huge newbuilding wins by South Korean yards continue, with the latest indications that Korean yards have won more contracts in the first five months of 2021 than in all of 2020. Over US$2.4 billion worth of Korean newbuilding orders were reported this week alone, including liquefied natural gas (LNG) carriers, LPG carriers and container ships. Japan reported bulker orders. Bulker and LNG bunker vessels were contracted in China. In the naval sector, the Biden Government announced a reduced U.S. Navy shipbuilding programme.