A wide spread of newbuilding orders was reported this week. China won contracts including very large bulk carriers and in the LNG carrier sector. A large gas carrier order is at last set to be placed in Russia after long discussions. Large passenger/vehicle ferries were ordered in Japan while South Korea booked orders including product carriers and tankers. Korea has also entered the race to build submarines for the Indian navy. The U.S. Navy’s modernisation programme continues to generate orders for U.S. yards.