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Speaking at the Shipbuilding Market Outlook session at the Sea Asia Virtual Preview, Gu Hai, vice president, Singapore Innovation and Research Center, ABS said that when the pandemic hit, the orderbook for newbuild vessels over 2,000 dwt was at a 30-year low. The orderbook at the start of 2021 stood at 8% of the world fleet in gross tonnage terms, down from 52% at its peak in 2008. Over the same period, the number of active yards fell from 930 to 391. “We had a good start this year with 169 new orders by the end of March, and a Clarksons projection of about 1,100 new orders this year. There’s some good news,” said Gu. Tightening regulation such as EEXI and CII create replacement pressure on the fleet which will support the orderbook in the longer term, he added.

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