Containerships have led growth in freight rates and order placements in 2021. For containerships, the average freight rate and order placements in 1Q-3Q21 surged 240.7% and 1,379.0%, respectively, vs. 2020 levels. Freight rate hikes were mostly attributable to congestion at US ports. Containerships currently have to wait ten days or more for loading and unloading, .
Hyundai Heavy Industries plans to acquire Daewoo Shipbuilding & Marine Engineering and form the world s largest shipyard is awaiting a green light from the EU, which now has until Jan. 20 to make a decision on the merger.