EDITORIAL NO 030 | 2023

Chinese yards continued their recent strong run of success in winning new orders this week. Chinese yards won two separate contracts for VLCC tankers, the first in the supertanker sector for some time. Other Chinese orders included product carriers, LNG carriers, and chemical/bulk carriers. South Korea won tanker and product carrier deals. In the naval sector, an EUR 500 million contract was placed in Europe, and an aircraft carrier refit contract worth up to USD 528.4 million was awarded in the United States. The British Government announced a new finance scheme to help shipping companies order British-built ships, partly using new freedom from European Union rules after Brexit.