EDITORIAL NO 023 | 2021

South Korean yards continued their recent newbuilding success with deals including tankers and gas carriers. A US$1.5 billion container ship deal was reported in China. The need for more environmentally friendly shipping continues to generate orders, with Turkey winning contracts for hybrid-electric ferries. The naval sector was active, with news of construction of a new class of frigates/coastal defence vessels in Europe along with continued bidding for a separate European frigate order. An Asian Government approved the next stage of a US$5.8 billion naval order. More naval orders were also reported in the United States. But yards involved in cruise ship construction continue to face tough times, with a rescue programme and job losses reported.