Örnek Clarkson

December-2008
Volume 15, No.12
Highlights
ISSN: 1358-8788
Major European Shipyards
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Licensed to H. Clarkson & Company Limited. Distribution is restricted; please remember to acknowledge the source. http://www.clarksons.net 11/02/2010 14:05:47 38964
World Shipyard
Monitor
Orderbook by Vessel Type

Orderbook As % Of Fleet (DWT)
Suezmax
Aframax
Panamax
Prod30-60K
7.3%
6.6%
Prod10-30K
52.0%
Chem & Spec.

Capesize
91.8%
242%
236%
Pmax80-100k
47.4%
36.4%
Pmax60-80K
107.8%
67.3%
67.2%
61.3%
Handymax
End Nov 08
Bulk Vessel
Orderbook
VLCC
>= 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec.
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Orderbook
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Other#
Total Special Vessels
Total
Orderbook
All Vessels Types
120%
6RXUFH&ODUNVRQ5HVHDUFK6HUYLFHV
110%
100%
90%
80%
70%
End 2007
60%
50%
40%
10%
0%
FCC<3Kteu
30%
FCC3-8Kteu
20%
36.0%
29.2%
35.7%
42.7%
16.5%
23.6%
Handysize
In November the total size of the orderbook fell

again, dropping to 10,195 vessels of 195.9m CGT and
596.7m dwt. This is the fourth month in a row the
orderbook has decreased and since August 2008 it has
diminished by 228 vessels. However, the orderbook is
still higher than at the start of the year.
In the dry cargo sector there are 3,466 bulkers of
67.6m CGT and 298.6m dwt on order. Despite the lack
of activity in this sector in recent weeks, this is still the
highest the bulker orderbook has ever been. Over 50%
of the deadweight tonnage on order is Capesize vessels.
Smaller Panamax vessels (60-80,000 dwt) have the
smallest amount of dwt on order with only 16.8m dwt,
which is only 6% of bulker deadweight on order.
The LNG orderbook has been in decline for some
time and has now sunk below 100 vessels. This is the
first time this has happened since October 2004. The
size of the LNG orderbook has shrunk by 25% since the
beginning of 2008.
No. end:
m.CGT, end:
2007 Nov*
2007 Nov*
2005
2006
2007
186
149
283
142
430
37
821
2,048
530
654
399
202
844
725
2,824
9
5,411
8.2
4.5
7.2
2.9
8.8
0.4
13.3
45.4
4.0
20.4
8.2
3.8
13.8
8.5
54.7
0.5
104.6
26.3
9.7
17.4
8.9
12.2
0.5
10.0
85.0
1.4
32.3
10.3
11.6
15.7
5.5
75.5
0.0
161.9
54.9
17.8
28.4
9.7
19.1
0.5
14.9
145.3
2.5
46.6
13.7
9.9
22.8
9.8
102.8
0.9
251.5
57.1
23.4
31.1
10.4
20.1
0.5
20.0
162.5
3.4
120.7
34.4
14.8
47.2
22.2
239.2
2.8
407.8
253
177
254
124
408
36
698
1,950
492
817
535
235
983
896
3,466
9
5,917
11.2
5.4
6.4
2.5
8.3
0.4
11.5
45.7
3.7
25.5
11.0
4.3
16.1
10.6
67.6
0.5
117.6
No. end:
m.CGT, end:
2007 Nov*
2007 Nov*
132
213
292
499
654
1,085
44
84
1,606
4,609
99
202
289
463
494
1,013
43
59
1,616
4,278
11.0
3.1
15.4
15.2
9.0
6.5
4.4
1.4
18.2
84.3
m. DWT, end:
Orderbook, Delivery in:

Nov*
78.4
27.7
27.9
9.1
19.0
0.6
17.4
180.1
3.1
152.5
46.0
16.8
55.2
28.1
298.6
2.8
484.7
m. DWT, end:
2009
2010
2011+
2.4
1.4
2.7
1.1
2.1
0.2
1.8
11.7
1.2
1.7
0.9
0.8
3.3
1.2
7.9
0.0
20.9
19.7
10.0
10.4
3.7
7.3
0.2
6.8
58.0
1.1
30.7
7.7
4.0
17.1
8.4
67.8
0.0
126.9
20.9
6.9
9.8
1.9
6.3
0.1
5.7
51.6
0.6
60.7
17.5
5.9
18.6
8.8
111.5
1.6
165.2
35.3
9.4
5.0
2.4
3.4
0.1
3.1
58.8
0.2
59.4
19.9
6.1
16.2
9.7
111.4
1.3
171.7
2005
2006
2007
Nov*
10.6
3.6
17.0
22.8
13.4
1.0
0.2
0.2
10.2
79.1
12.2
4.8
17.9
26.9
14.0
2.0
0.3
0.2
13.7
91.9
11.8
4.4
36.0
29.7
13.8
3.0
0.3
0.2
19.3
118.5
8.7
3.4
36.7
27.5
10.2
3.0
0.3
0.2
22.1
112.0
8.0
2.5
15.6
14.2
6.8
6.5
4.1
1.1
19.3
78.4
2008
m. DWT, end:
2008
2009
2010
2011+
2.0
0.4
0.6
1.7
1.7
0.7
0.0
0.0
2.7
9.8
4.2
1.7
7.4
10.8
4.4
1.1
0.1
0.1
6.1
35.9
1.5
0.7
11.8
7.2
2.8
0.8
0.1
0.0
6.3
31.2
0.9
0.5
16.9
7.8
1.4
0.4
0.1
0.0
7.0
35.1
No. end:
m.CGT, end:
2007 Nov*
2007 Nov*
2005
2007
Nov*
2008
2009
2010
2011+
10,027 10,195
188.9 195.9
241.0 343.4 526.3
596.7
30.7
162.8
196.4
206.8
2006
1%'HWDLOVRIVSHFLDOFDUJRVKLSVRUGHUERRNLQWHUPVRIVSHFLDOXQLWVRIPHDVXUHPHQWHJFEPWHXFXIWHWFPD\EHIRXQGLQWKHEOXHFHQWUHSDJHV2WKHU
YHVVHOVLQFOXGH)362V0335HHIHUV5R5RVKLSV3&& $VDWHQGRISHULRG
Clarkson Research Services
Page 2
Dec-08
Summary November 2008
38.5%51.5%
50.2%
42.7%
34.9%
40.5%
35.5%
43.4%
39.6%
45.3%
VLCC
Orderbook by Vessel Type
6
5
Tankers
Bulkers
Gas
Container
4
3
2
1
Bulk Vessel
Orderbook
VLCC
>= 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec.
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Orderbook
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Others#
Total
Orderbook
All Vessels Types
Million GT, end:
4-2013
2-2013
12-2012
10-2012
8-2012
6-2012
4-2012
2-2012
12-2011
10-2011
8-2011
6-2011
4-2011
2-2011
12-2010
10-2010
8-2010
6-2010
4-2010
2-2010
12-2009
10-2009
8-2009
6-2009
4-2009
2-2009
12-2008
10-2008
8-2008
6-2008
2001
2002
2003
2004
2005
2006
2007
13.7
5.1
7.1
1.2
4.3
0.2
1.8
33.4
0.3
4.0
0.5
3.0
4.0
1.7
13.1
0.1
47.0
9.8
4.4
7.8
2.5
5.0
0.1
2.4
32.1
0.5
6.1
0.9
3.9
4.4
1.9
17.2
0.1
49.9
11.5
6.5
9.2
4.9
6.3
0.1
3.7
42.2
0.5
10.2
2.3
7.5
7.3
2.7
29.9
0.0
72.7
13.2
6.6
10.0
5.8
6.2
0.2
5.3
47.3
0.8
14.3
3.8
7.2
8.7
2.9
36.9
0.0
84.9
13.7
5.1
9.5
5.1
7.5
0.4
6.3
47.5
1.0
16.3
5.5
6.2
9.3
3.4
40.8
0.0
89.2
28.5
9.2
15.5
5.5
11.5
0.4
9.3
80.0
1.7
23.5
7.4
5.4
13.5
6.2
56.1
0.5
138.3
29.6
12.2
17.0
5.9
12.2
0.4
12.5
89.5
2.3
61.3
18.7
8.2
27.4
13.8
129.4
1.5
222.7
Nov*
40.1
14.4
15.2
5.1
11.5
0.4
10.9
97.6
2.1
77.3
25.2
9.3
32.0
17.3
161.1
1.5
262.2
Million GT, end:
2008
2009
2010
2011+
1.3
0.7
1.4
0.6
1.3
0.2
1.2
6.7
0.8
0.9
0.5
0.5
2.0
0.7
4.6
0.0
12.0
10.2
5.2
5.7
2.1
4.4
0.1
4.2
32.0
0.7
15.6
4.2
2.2
9.8
5.2
37.0
0.0
69.7
10.8
3.6
5.3
1.0
3.8
0.0
3.6
28.1
0.4
30.9
9.6
3.2
10.8
5.4
59.9
0.8
89.2
17.9
4.9
2.7
1.3
2.0
0.0
1.9
30.9
0.2
30.0
10.9
3.4
9.4
5.9
59.6
0.7
91.3
2001
2002
2003
2004
2005
2006
2007
Nov*
4.5
1.0
0.5
10.5
3.7
0.6
3.3
1.2
4.8
30.2
5.5
0.9
1.1
8.3
2.7
0.5
2.4
0.9
6.0
28.2
5.6
0.8
10.8
13.1
4.8
0.5
1.7
0.9
7.6
45.8
10.7
1.6
15.2
17.4
7.1
0.7
2.0
0.8
10.9
66.2
13.5
3.1
16.2
20.2
10.5
1.1
3.2
1.1
14.5
83.2
15.0
4.1
16.9
23.8
11.0
2.2
3.6
1.1
17.7
95.4
14.3
3.8
34.2
26.2
11.0
3.2
4.2
1.2
23.8
121.7
10.4
2.9
35.0
24.5
8.3
3.3
3.8
1.0
25.1
114.3
Million GT, end:
2008
2009
2010
2011+
2.4
0.3
0.6
1.5
1.3
0.7
0.1
0.1
3.0
10.0
5.1
1.4
7.0
9.4
3.5
1.2
1.1
0.5
7.5
36.6
1.9
0.6
11.2
6.4
2.3
1.0
1.2
0.2
7.2
32.0
1.1
0.5
16.2
7.2
1.1
0.5
1.4
0.2
7.5
35.6
2001
2002
2003
2004
2005
2006
2007
Nov*
2008
2009
2010
2011+
77.2
78.1
118.5
151.1
172.5
233.7
344.4
376.5
22.1
106.3
121.2
126.9
YHVVHOVLQFOXGH)362V0335HHIHUV5R5RVKLSV3&& $VDWHQGRISHULRG
Page 3
Dec-08
Monthly Forward Orderbook by Shiptype (m. cgt)
m. cgt
Contracting by Vessel Type

Quarterly Contracting (m. CGT)

2WKHU
&RQWDLQHU
*DV
%XONHUV
7DQNHUV

4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
Source: Clarkson Research Services
Bulk Vessel
Contracting
VLCC
>= 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec.
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Contracting
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Others#
Total
Contracting
All Vessels Types
No. end:
m.CGT, end:
2007 Nov*
2007 Nov*
36
62
81
52
112
11
408
762
230
472
278
114
524
465
1,853
6
2,851
103
41
27
15
77
8
56
327
69
196
162
72
232
256
918
0
1,314
1.6
1.9
2.0
1.1
2.4
0.1
6.4
15.4
1.8
14.4
5.7
2.1
8.6
5.5
36.4
0.3
53.9
m.CGT, end:
2007 Nov*
2007 Nov*
5
53
36
92
56
157
7
13
355
774
1.9
0.6
9.8
5.2
2.8
3.2
1.5
0.4
8.3
33.8
Ordering Trends
m. DWT, end:
2004
2005
2006
2007
12.3
4.5
7.3
4.1
4.5
0.2
4.5
37.5
0.7
15.5
3.2
5.2
6.3
2.2
32.5
0.0
70.7
10.1
1.1
6.0
2.0
5.5
0.3
4.3
29.4
0.8
12.8
4.7
3.8
6.3
2.9
30.5
0.0
60.7
34.4
12.2
16.6
4.1
10.7
0.2
8.2
86.3
1.5
25.2
7.3
2.9
12.1
5.7
53.3
0.9
142.0
11.1
9.6
8.8
3.8
5.2
0.2
9.2
47.9
1.5
84.4
24.0
8.3
29.7
14.7
161.0
1.9
212.3
4.6
1.2
0.7
0.3
1.6
0.1
1.1
9.5
0.5
6.3
3.3
1.3
3.8
3.1
17.8
0.0
27.8
No. end:
25
69
179
175
193
528
16
34
672
1,891
In November, 19 contracts of 0.3m CGT and 0.8m

dwt were reported. This is the lowest number of
contracts recorded in a single month since January 1996
and is 93% lower than the number of contracts reported
for January 2008. As purse strings tighten further and
lending is reduced to a minimum then the likelihood of
new contracts being secured becomes more remote.
However, to what extent the situation can deteriorate any
further remains to be seen.
The total amount of contracting for 2008 stands at
2,088 vessels of 40.9m CGT and 146.4 dwt. On an
annualised basis, in deadweight terms, this looks set to
be 39% lower than the total amount contracted in 2007.
No Capesize contracts were reported in November.
This has not occurred since November 2002.
Just one 320,000 dwt VLCC was contracted at
STX Shipbuilding for Italian owners Fratelli DAmato,
with delivery projected for 2011. This is the third VLCC
to be ordered by Fratelli DAmato at STX, with the other
two VLCCs having been contracted in June 2008.
This Year v. Last

UP BY.
220%
DOWN BY..
-27%
DOWN BY..
-63%
DOWN BY..
-68%
DOWN BY..
-29%
STEADY AT.
2%
DOWN BY..
-78%
UP BY.
10%
DOWN BY..
-67%
DOWN BY..
-50%
DOWN BY..
-37%
DOWN BY..
-35%
DOWN BY..
-52%
DOWN BY..
-39%
DOWN BY..
-47%
DOWN BY..
-100%
DOWN BY..
-34%
Ordering Trends
m. DWT, end:
2004
2005
2006
2007
5.7
1.2
5.6
10.0
4.8
0.4
0.1
0.1
4.2
32.1
3.7
2.1
4.5
8.8
7.3
0.7
0.1
0.1
5.7
32.9
3.7
1.9
7.4
10.3
4.8
1.4
0.1
0.1
6.5
36.1
2.1
0.7
23.0
9.9
4.2
1.5
0.1
0.1
9.5
51.2
0.4
0.5
2.0
2.9
0.8
1.1
0.6
0.3
4.5
13.2
Nov*
32.5
6.4
3.0
1.1
3.4
0.1
1.9
48.4
0.4
38.5
13.9
4.9
13.1
8.3
78.6
0.0
127.5
Nov*
0.4
0.6
4.9
5.6
1.1
0.5
0.0
0.0
5.8
18.9
This Year v. Last

DOWN BY..
STEADY AT.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
-78%
1%
-77%
-39%
-71%
-66%
-71%
-73%
-34%
-60%
Ordering Trends
No. end:
m.CGT, end:
2007 Nov*
2007 Nov*
2004
2005
2007
Nov*
This Year v. Last
4,748 2,088
87.8
102.8
93.7 178.2 263.4
146.4
DOWN BY.. -39%
40.9
m. DWT, end:
2006
1%'HWDLOVRIVSHFLDOFDUJRVKLSVRUGHUERRNLQWHUPVRIVSHFLDOXQLWVRIPHDVXUHPHQWHJFEPWHXFXIWHWFPD\EHIRXQGLQWKHEOXHFHQWUHSDJHV2WKHUYHVVHOV
LQFOXGH)362V0335HHIHUV5R5RVKLSV3&& <HDUWRGDWHDWHQGRISHULRG
Page 4
Dec-08

Contracting by Vessel Type

Date
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Oct-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Oct-08
Oct-08
Oct-08
Type
VLCC
Handy Prod
Handy Prod
Small/Spec
Small/Spec
Small/Spec
20-60K cu.m. LPG
20-60K cu.m. LPG
20-60K cu.m. LPG
Capesize
Handysize
Handysize
Handysize
Handysize
Handysize
Handysize
Handysize
Handysize
Offshore
Offshore
Offshore
Offshore
Offshore
Bulk Vessel
Contracting
VLCC
>= 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec.
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Contracting
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Others#
Total
Contracting
All Vessels Types
Dwt
320,000
37,000
37,000
9,500
9,500
8,500
25,710
25,710
25,710
180,000
37,150
37,150
37,150
37,150
37,150
37,150
37,150
37,150
4,500
3,500
3,500
2,200
Unit
35,000 cbm
35,000 cbm
35,000 cbm
11,500
3,485
2,710
2,710
1,703
GT
GT
GT
GT
GT
Delivery
1 2011
1 2010
1 2010
1 2010
1 2010
1 2010
1 2010
1 2010
1 2010
1 2010
1 2012
1 2012
1 2012
1 2012
1 2012
1 2012
1 2012
1 2012
1 2011
1 2010
1 2009
1 2010
1 2012
Builder
STX Shipbuild.
Hyundai Mipo
Hyundai Mipo
Sumber Samudra
Sumber Samudra
Sumber Samudra
Hyundai Mipo
Hyundai Mipo
Hyundai Mipo
Koyo Dock K.K.
STX Dalian
STX Dalian
STX Dalian
STX Dalian
STX Dalian
STX Dalian
STX Dalian
STX Dalian
Fosen M.V.
Havyard Leirvik
NGV Tech
NGV Tech
Tebma Shipyards Ltd
Hull No.
2265
1065
1066
1070
1074
1075
1076
1077
1078
Ordering Trends
Million GT, end:

2000
8.8
3.8
3.2
0.3
1.8
0.1
0.8
18.9
0.1
1.9
0.3
2.0
3.0
1.3
8.5
0.0
27.5
2001
3.6
1.5
4.0
0.9
2.6
0.0
0.9
13.5
0.3
1.6
0.3
0.9
1.3
0.7
4.8
0.1
18.8
2002
2.4
1.2
2.8
1.7
2.0
0.0
1.3
11.5
0.3
4.0
0.6
3.1
3.0
1.3
12.0
0.0
23.9
2003
7.8
4.1
5.9
3.3
3.5
0.1
2.3
27.0
0.4
6.6
1.7
4.4
4.8
1.6
19.1
0.0
46.4
2004
6.4
2.3
3.9
2.4
2.8
0.1
2.8
20.7
0.5
7.8
1.8
2.8
3.8
1.4
17.5
0.0
38.8
2005
5.3
0.6
3.3
1.2
3.4
0.2
2.7
16.7
0.5
6.4
2.5
2.0
3.8
1.8
16.6
0.0
33.8
2006
17.8
6.3
9.1
2.3
6.5
0.1
5.1
47.2
1.0
12.8
3.9
1.7
7.1
3.6
29.2
0.5
77.9
2007
5.7
5.0
4.8
2.1
3.2
0.1
5.8
26.6
1.0
43.0
13.1
4.6
17.1
9.0
86.8
1.0
115.4
1.9
0.5
0.2
7.2
3.1
0.3
1.4
0.6
3.1
18.3
2001
2.1
0.6
0.4
3.9
1.7
0.4
0.2
0.3
1.9
11.3
2002
2.0
0.2
0.5
3.0
1.0
0.3
0.2
0.4
3.2
10.8
2003
1.5
0.6
9.9
9.1
3.8
0.3
0.5
0.4
4.3
30.4
2004
7.2
1.1
5.5
8.8
3.7
0.5
1.1
0.3
6.4
34.7
2005
4.7
1.8
4.1
7.8
5.7
0.7
1.6
0.7
6.7
33.6
2006
4.4
1.7
6.9
9.0
3.8
1.6
1.2
0.3
7.4
36.2
2007
2.5
0.6
22.0
8.7
3.5
1.6
1.4
0.4
11.1
51.7
45.8
2001
30.1
2002
34.6
2003
76.9
2004
73.5
This Year v. Last

UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
STEADY AT.
DOWN BY..
STEADY AT.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
214%
-27%
-63%
-68%
-30%
-2%
-79%
3%
-69%
-51%
-36%
-36%
-52%
-40%
-47%
-100%
-36%
Nov*
0.5
0.5
4.7
5.1
0.9
0.6
0.6
0.3
5.6
18.7
This Year v. Last

DOWN BY..
STEADY AT.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
-77%
-1%
-77%
-36%
-71%
-60%
-56%
-22%
-45%
-60%
Ordering Trends
Million GT, end:

2000
Nov*
16.3
3.3
1.6
0.6
2.0
0.1
1.1
25.2
0.3
19.4
7.7
2.7
7.6
5.0
42.3
0.0
67.8
Ordering Trends
Million GT, end:

2000
$m.
Owner
155.50 Fratelli D'Amato
Hartmann Schiff.
Hartmann Schiff.
E.A. Technique (M)
E.A. Technique (M)
E.A. Technique (M)
Hartmann Schiff.
Hartmann Schiff.
Hartmann Schiff.
Mitsui O.S.K. Lines
STX Pan Ocean
STX Pan Ocean
STX Pan Ocean
STX Pan Ocean
STX Pan Ocean
STX Pan Ocean
STX Pan Ocean
STX Pan Ocean
689.00 Volstad Maritime
55.00 Garware Offshore
43.30 SLOK Nigeria Ltd
43.30 SLOK Nigeria Ltd
27.50 Unknown Owner
2005
67.4
2006
114.1
2007
167.1
Nov*
86.5
This Year v. Last

DOWN BY..
-43%
1%'HWDLOVRIVSHFLDOFDUJRVKLSVRUGHUERRNLQWHUPVRIVSHFLDOXQLWVRIPHDVXUHPHQWHJFEPWHXFXIWHWFPD\EHIRXQGLQWKHEOXHFHQWUHSDJHV2WKHUYHVVHOV
LQFOXGH)362V0335HHIHUV5R5RVKLSV3&& <HDUWRGDWHDWHQGRISHULRG
Page 5
Dec-08
Recently Confirmed Shipbuilding Contracts
Deliveries by Vessel Type

Quarterly Deliveries (m. DWT)

7DQNHUV
*DV
2WKHU

4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
Bulk Vessel
Deliveries
VLCC
>= 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec.
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Deliveries
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Others#
Total
Deliveries
All Vessels Types
No. end:
m.CGT, end:
2007 Nov*
2007 Nov*
29
25
56
42
92
11
169
424
93
55
38
45
99
92
329
0
846
36
13
56
33
99
9
179
425
107
33
26
39
93
85
276
0
808
1.3
0.8
1.4
0.9
1.9
0.1
2.8
9.1
0.7
1.7
0.8
0.8
1.6
0.9
5.9
0.0
15.7
m.CGT, end:
2007 Nov*
2007 Nov*
38
64
39
128
216
232
8
38
345
1,108
2.6
0.8
2.2
3.7
3.0
1.3
0.9
0.3
4.3
19.0
m.CGT, end:
2007 Nov*
2007 Nov*
1,916
34.8
2005
2006
2007
9.3
4.0
7.0
3.2
3.4
0.1
2.7
29.8
0.5
8.8
1.5
5.7
5.5
2.0
23.4
0.0
53.7
5.8
4.1
5.5
3.2
3.9
0.2
3.3
26.0
0.4
11.0
3.9
4.7
5.0
1.4
26.0
0.0
52.4
9.0
4.0
6.2
3.1
4.2
0.1
4.1
30.7
0.6
10.3
3.3
3.4
5.3
2.3
24.7
0.0
55.9
m. DWT, end:
2005
2006
2007
1.4
0.3
3.3
5.7
2.9
0.3
0.0
0.1
2.6
16.6
2.2
0.8
6.6
6.2
4.2
0.4
0.1
0.1
2.9
23.4
2.5
1.0
4.9
7.1
4.4
0.5
0.1
0.0
4.0
24.6
3.4
1.1
1.8
3.9
3.0
1.1
0.9
0.6
3.3
19.1
No.
2,187
m. DWT, end:
1.6
0.4
1.4
0.7
2.1
0.1
2.9
9.2
0.8
1.1
0.5
0.7
1.5
0.9
4.8
0.0
14.8
No.
32
57
45
121
229
249
11
22
575
1,341
November witnessed the delivery of just 45 vessels

of 2.9m dwt and 0.8m CGT, the lowest number of
deliveries in a month for 13 years, since November
1995.
Tankers
30 tankers of 1.8m dwt were reported as delivered
last month. This included the 314,700 dwt M. STAR
built at Kawasaki H.I. for MOL.
Bulkers
Only 7 bulkers of 0.7 dwt were delivered in
November, including the 229,000 dwt VLOC BAO
AN built by Namura Zosensho for Nippon Yusen
Kaisha. The 178,062 dwt FMG MATILDA was
delivered to CMB N.V. by Waigaoqiao shipyard, China.
Containerships
6 containerships of 0.3m dwt were delivered in
November. This included delivery of the 11,660 TEU
(130,800 dwt) MSC SOLA built by Hyundai Samho
for Mediterranean Shipping Co. In addition, the 9,700
TEU (120,000 dwt) CMA CGM BUTTERFLY was
delivered to Claus-Peter Offen by Hyundai H.I.
m. DWT, end:
2005
2006
2007
70.3
75.8
80.6
33.9
Delivery Trends
Nov*
11.2
2.1
6.1
2.4
4.5
0.1
4.4
30.8
0.7
6.7
2.2
2.9
5.1
2.4
19.2
0.0
50.7
2008
2009
2010
2011
13.5
3.4
8.7
3.5
6.5
0.3
6.2
42.1
1.9
8.4
3.1
3.7
8.3
3.5
27.0
0.0
70.9
18.9
9.6
10.1
3.6
7.1
0.2
6.7
56.2
1.1
29.9
7.6
3.8
16.7
8.2
66.4
0.0
123.6
20.9
7.0
9.8
2.0
6.3
0.1
5.7
51.7
0.6
59.9
17.4
5.8
18.6
8.8
110.4
1.6
164.3
29.9
7.5
4.8
2.4
3.0
0.0
2.8
50.4
0.2
38.1
15.3
4.0
12.5
6.6
76.4
1.3
128.3
Delivery Trends
Nov*
3.6
1.6
4.2
7.8
4.6
0.5
0.1
0.1
3.0
25.4
2008
2009
2010
2011
5.5
2.0
4.8
9.4
6.3
1.1
0.1
0.1
5.6
34.9
4.2
1.7
7.4
10.6
4.3
1.1
0.1
0.1
5.9
35.3
1.6
0.8
11.8
7.2
2.8
0.8
0.1
0.0
6.3
31.4
0.8
0.4
13.9
4.6
1.1
0.4
0.1
0.0
6.0
27.2
Delivery Trends
Nov*
76.0
2008
2009
2010
2011
105.9
159.0
195.4
155.7
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Page 6
Dec-08

%XONHUV
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Deliveries by Vessel Type

Type
VLCC
Pan Tank
Handy Prod
Handy Chem
Handy Chem
Handy Chem
Small/Spec
Small/Spec
<8K cu.m. LPG
Capesize
Capesize
Capesize
Handymax
Pan Cont
Handy
Offshore
Offshore
Offshore
Offshore
Offshore
Offshore
Ro-Ro Ferries
Misc.
Vessel Name
Yakumosan
BW Shinano
Atlantic Titan
Agamemnon II
Dreggen
Caroni Plain
Budi Mulia
CF Weymouth
Tempest
Bao An
Baogang Glory
FMG Matilda
Mandarin Fortune
Hanjin Kingston
Ayse Naz Bayraktar
C-Sailor
Wos 5504
Wos 5503
Belait Barakah
Mermaid Sovereign
Kehoe Tide
Norman Voyager
Li Long
Bulk Vessel
Deliveries
VLCC
>= 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec.
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Deliveries
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Others#
Total
Deliveries
All Vessels Types
Flag
PA.
SG.
H.K.
LI.
PA.
H.K.
MY.
PA.
NE.
PA.
PA.
BE.
SG.
PA.
TU.
VA.
SG.
SG.
BN.
TH.
VA.
IT.
PRC
Dwt
300,000
76,000
47,128
51,246
19,994
39,572
7,000
6,200
2,250
229,000
210,000
178,062
57,000
50,500
22,000
2,500
281
281
1,300
1,700
2,000
7,500
Unit
2,700 cbm
4,300
1,286
2,132
499
499
1,223
1,000
2,200
26,500
TEU
TEU
GT
GT
GT
GT
GT
GT
GT
Delivery
Nov 2008
Nov 2008
Nov 2008
Nov 2008
Nov 2008
Nov 2008
Nov 2008
Nov 2008
Sep 2008
Nov 2008
Jul 2008
Nov 2008
Nov 2008
Nov 2008
Oct 2008
Oct 2008
May 2008
Jan 2008
Sep 2008
Jun 2008
Jun 2008
Oct 2008
Apr 2008
2001
2002
2003
2004
2005
2006
2007
4.1
1.3
0.8
0.2
0.9
0.0
0.5
7.7
0.1
2.8
0.1
4.5
2.9
1.0
11.3
0.0
19.2
6.3
2.0
2.1
0.4
1.3
0.1
0.7
12.8
0.2
1.9
0.2
2.2
2.6
1.0
8.0
0.0
21.0
6.2
2.0
4.5
0.9
2.2
0.0
1.1
16.8
0.3
2.5
0.2
0.8
2.0
0.9
6.4
0.1
23.7
4.6
2.2
3.1
1.5
2.9
0.0
1.2
15.6
0.3
3.8
0.3
3.1
2.4
1.2
10.6
0.0
26.5
4.8
2.1
3.9
1.8
2.1
0.1
1.7
16.5
0.3
4.4
0.8
3.0
3.2
1.2
12.6
0.0
29.4
3.0
2.2
3.0
1.8
2.4
0.1
2.1
14.6
0.3
5.6
2.1
2.5
2.9
0.9
13.9
0.0
28.8
4.6
2.1
3.3
1.8
2.6
0.1
2.6
17.1
0.4
5.2
1.8
1.8
3.3
1.4
13.5
0.0
31.0
2001
2002
2003
2004
2005
2006
2007
0.1
0.4
0.0
5.1
2.0
0.2
1.0
1.0
2.2
11.9
1.0
0.3
0.0
5.2
1.9
0.3
1.1
0.8
2.2
12.9
1.4
0.7
0.2
4.3
1.8
0.4
1.1
0.4
2.9
13.0
2.1
0.3
1.2
4.5
1.4
0.2
0.9
0.5
3.3
14.5
1.8
0.2
3.1
5.0
2.3
0.4
0.4
0.4
3.3
16.8
2.9
0.7
6.2
5.5
3.3
0.4
0.7
0.3
4.1
24.1
3.2
0.9
4.7
6.3
3.5
0.6
0.9
0.3
5.1
25.4
31.1
33.9
36.7
2004
41.0
2005
46.3
2008
2009
2010
2011
7.0
1.8
4.7
2.0
4.0
0.2
3.9
23.5
1.3
4.2
1.7
2.1
4.9
2.2
15.2
0.0
40.0
9.8
5.0
5.5
2.0
4.3
0.1
4.2
31.0
0.7
15.2
4.2
2.1
9.6
5.2
37.0
0.0
68.7
10.8
3.6
5.4
1.1
3.8
0.0
3.6
28.3
0.4
30.5
9.5
3.1
10.8
5.4
59.9
0.8
89.4
15.2
3.9
2.6
1.3
1.8
0.0
1.7
26.6
0.1
19.3
8.4
2.2
7.2
4.0
40.7
0.7
68.1
Nov*
4.4
1.4
3.9
6.8
3.6
0.5
0.9
0.5
4.3
26.2
2008
2009
2010
2011
6.7
1.7
4.4
8.3
4.9
1.2
1.0
0.6
7.1
36.0
5.0
1.4
6.9
9.2
3.5
1.2
1.1
0.4
7.3
36.1
1.9
0.6
11.2
6.5
2.3
1.0
1.2
0.2
7.2
32.1
0.9
0.3
13.3
4.2
0.9
0.5
0.9
0.1
6.2
27.4
Delivery Trends
Million GT, end:

2003
Nov*
5.8
1.1
3.4
1.4
2.7
0.1
2.7
17.1
0.5
3.4
1.2
1.6
3.0
1.5
10.6
0.0
28.2
Delivery Trends
Million GT, end:
2002
Owner
Mitsui O.S.K. Lines
BW Shipping Agency
Cido Shipping
Capital Ship Mngt.
Nisshin Kisen
Mitsui O.S.K. Lines
Maritime Consortium
Courtney Fynn Shpg.
Chemgas B.V.
Nippon Yusen Kaisha
Kawasaki Kisen
Bocimar N.V.
Da Sin Shpg. Pte.
Hanjin Shpg Co.
Bayraktar Denizcilik
Edison Chouest
Wecoy Shipping Pte
Wecoy Shipping Pte
Jasa Merin
Mermaid Offshore
Tidewater Marine
Epic Shpg. (U.K.)
CCCC Guangzhou
Delivery Trends
Million GT, end:
2001
Builder
I.H.I.
Dalian Shipbld. Ind.
Hyundai Mipo
STX Shipbuild.
Fukuoka S.B.
Shin Kurushima
Xinle S.B.
Zhejiang Fanshun
Breko Shipyard
Namura Zosensho
Universal S.B.
Waigaoqiao S/Y
Hantong Shipyard
Samsung H.I.
Cicek Shipyard
Jaya S.B. & Eng
Wuxi Jiangsu
Wuxi Jiangsu
Muhibbah Marine
Unithai S.Y. & Eng.
Remontowa
Visentini
Guangzhou Wenchong
2006
53.0
2007
56.4
Nov*
54.4
2008
2009
2010
2011
75.9
104.1
120.8
96.0
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Page 7
Dec-08
Recent Shipbuilding Deliveries
Demolition Sales by Vessel Type

Quarterly Demolitions (m. DWT)
Demolition Summary November 2008
2WKHU
&RQWDLQHU
*DV
%XONHUV
7DQNHUV

4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
Bulk Vessel
Demolition
VLCC
> 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Demolition
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Other#
Total
Demolition
All Vessels Types
No.
Average Age
2007 Nov*
0
0
10
3
32
20
13
78
30
0
1
1
1
8
11
0
119
4
2
12
6
9
19
17
69
23
10
0
9
3
13
35
2
129
No.
2007 Nov*
25.1
26.9
27.9
29.9
27.0
27.9
31.5
25.4
29.8
27.8
33.2
31.7
2004
2005
2006
2007
1.1
1.6
2.3
1.0
1.2
0.4
0.3
8.0
0.2
0.0
0.0
0.0
0.1
0.3
0.3
0.3
8.8
0.3
0.3
1.5
0.5
1.1
0.3
0.1
4.0
0.1
0.2
0.0
0.2
0.1
0.4
0.9
0.0
5.1
0.0
0.0
0.9
0.3
0.9
0.4
0.4
2.9
0.1
0.3
0.0
0.5
0.2
0.9
1.8
0.3
5.2
0.0
0.0
0.9
0.2
1.2
0.4
0.4
3.1
0.2
0.0
0.1
0.1
0.1
0.2
0.4
0.0
3.7
22.4
25.5
25.9
25.4
28.2
29.0
27.0
27.1
32.0
27.8
27.7
26.6
30.4
28.7
29.1
28.4
4
17
0
3
35
2
2
12
73
148
2007 Nov*
33.5
29.5
27.4
30.2
36.8
32.7
35.2
32.4
31.9
Forecast Demolition
m. DWT
Average Age
2007 Nov*
1
17
0
2
19
1
1
10
55
106
Demolition has surged in recent weeks as the

downturn in freight markets has sparked something of a
boom for breakers, especially those in the Indian
subcontinent. In addition to this, demolition prices have
been somewhat revived and scrapping prices for tankers
in both India and Bangladesh are rumoured to have
increased although, as yet, this is unconfirmed.
In November, 25 bulk carriers of 2.0m dwt were
reported as scrap, which is the greatest number of
vessels sold for scrap in a month for seven years, since
November 2001. Seven of these were Capesizes,
including three HOSCO owned vessels: the 1981-built,
194,649 dwt (27,849 ldt) HEBEI HAWK, the 1982built, 156,040 dwt (30,608 ldt) double-hulled HEBEI
CENTURY and the 1983-built, 135,160 dwt (21,830
ldt) HEBEI DOVE. All were sold to Bangladeshi
breakers for between $210/ldt and $230/ldt.
It was also reported that eight containerships were
scrapped. This included the 1977-built Danaos Shipping
owned 3,101 TEU (22,970 ldt) ASIA EXPRESS, also
sold to Bangladeshi breakers.
Nov*
1.0
0.3
1.1
0.4
0.4
0.4
0.5
4.1
0.1
1.5
0.0
0.6
0.1
0.3
2.6
0.2
7.0
2008
2009
1.4
0.4
1.2
0.5
0.4
0.5
0.7
5.1
0.1
2.1
0.0
0.9
0.2
0.8
4.0
0.2
9.4
2.3
1.1
1.2
0.7
1.8
1.2
1.8
10.0
0.1
7.6
0.3
4.3
1.5
6.4
20.1
0.2
30.5
Forecast Demolition
m. DWT
2004
2005
2006
2007
Nov*
2008
2009
0.0
0.4
0.0
0.0
0.1
0.0
0.0
0.0
0.8
1.2
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.5
0.6
0.0
0.1
0.0
0.0
0.3
0.0
0.0
0.0
0.8
1.3
0.0
0.5
0.0
0.1
0.3
0.0
0.0
0.0
0.8
1.8
0.1
0.4
0.0
0.1
1.0
0.0
0.0
0.0
1.5
3.2
0.2
0.5
0.0
0.2
1.2
0.1
0.0
0.0
1.8
4.0
0.0
0.5
0.0
0.2
1.4
0.2
0.0
0.0
1.8
4.1
37.7
30.0
29.8
29.5
39.1
50.3
35.8
31.3
31.5
Forecast Demolition
No.
Average Age
2007 Nov*
2007 Nov*
2004
2005
2006
2007
Nov*
2008
2009
30.4
10.0
5.7
6.5
5.4
10.2
13.3
34.6
225
277
30.1
m. DWT
<HDUWRGDWHDWHQGRISHULRG$YHUDJHDJHLVEDVHGRQQXPEHURIVKLSV2WKHUYHVVHOVLQFOXGH)362V0335HHIHUV5R5RVKLSV3&&
Page 8
Dec-08

Demolition Sales by Vessel Type

Date
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Nov-08
Type
Handy Prod
Handy Prod
8-20K cu.m. LPG
Capesize
Pan Bulk
Pan Bulk
Pan Bulk
Pan Bulk
Pan Bulk
Handysize
Handysize
Handysize
Handysize
Handysize
Combo
Sub-Panamx
Handy
Handy
Handy
Feedermax
MPP > 5K DWT
PCC > 5K DWT
Other Dry > 5K DWT
Bulk Vessel
Demolition
VLCC
> 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Demolition
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore Vessels
Cruise Vessels
Ro-Ro Ferries
Other#
Vessel Name
Anna
Al Nabila 4
Hema
Lydia
Swift Fame
Hebei Diligence
Danning Princess
Ledra
Aghia Markella
Spar Three
Maha Anosha
Sea Beauty 1
Greveno
Zografia
Swift Fair
Yellow Sea
MSC Teresa
Alianca Urca
Leblon
Windward
Tarusa
Noble Ace
Ibn Younus
Flag
KO.
EG.
NIS
MA.
LI.
H.K.
SV.
CY.
PA.
NIS
IN.
PA.
GR.
MA.
LI.
MA.
PA.
BZ.
BZ.
LI.
GG.
PH.
QA.
Dwt
25,551
27,841
11,365
141,475
75,594
64,860
64,854
61,981
64,657
35,941
35,100
22,314
22,170
28,962
75,469
39,967
20,770
23,520
23,520
21,834
16,208
13,689
23,828
Ldt
7,619
23,690
13,217
17,790
17,790
10,669
12,488
9,212
7,878
5,586
5,700
6,774
17,106
15,353
12,400
10,073
9,975
7,060
11,776
7,673
Blt.
1973
1982
1977
1981
1981
1984
1981
1980
1979
1982
1977
1976
1978
1978
1981
1981
1974
1981
1982
1974
1982
1978
1977
Owner
Unknown Owner
Pyramid Navigation
Skibs. Solvang
Paschal Holding
Norbulk (Hellas)
HOSCO
Ning Hang Shpg.
Marmaras Nav. Ltd.
Golden Union
Spar Shipping A/S
Five Stars Shpg.
Ocean Marine Shpg.
Tritea Maritime
Vulcanus Technical
Norbulk (Hellas)
Ofer Bros (Ships)
Mediterranean Shpg.
Hamburg-Sud.
Alianca Navegacao
Costamare Shipping
Iskona Shipmanagmnt
Magsaysay Maritime
United Arab Shpg.
Breaker
Pakistan
Bangladesh
India
Bangladesh
Bangladesh
Bangladesh
Bangladesh
Bangladesh
India
Bangladesh
India
India
Pakistan
Pakistan
Bangladesh
Bangladesh
India
India
India
India
Bangladesh
India
India
$/ldt
$m.
285.00
2.17
220.00
255.00
250.00
250.00
275.00
210.00
230.00
270.00
5.21
3.37
4.45
4.45
2.93
2.62
2.12
2.13
285.00
225.00
255.00
1.62
1.52
4.36
200.00
200.00
2.01
2.00
290.00
2.23
Forecast Demolition
Million GT
2000
2001
2002
2003
2004
2005
2006
2007
3.4
1.3
0.9
0.1
0.8
0.5
0.1
7.1
0.0
0.5
0.0
0.1
0.5
1.4
2.6
0.2
9.9
4.1
2.1
0.8
0.2
0.4
0.2
0.0
7.9
0.0
0.8
0.0
1.2
0.4
2.2
4.7
0.2
12.9
5.3
0.8
0.8
0.2
1.0
0.4
0.2
8.7
0.0
0.7
0.0
0.8
0.3
1.7
3.5
0.4
12.6
4.8
1.1
1.8
0.7
1.1
0.5
0.2
10.2
0.2
0.4
0.1
0.2
0.4
1.3
2.4
0.1
12.9
0.5
0.8
1.3
0.5
0.7
0.2
0.2
4.4
0.1
0.0
0.0
0.0
0.0
0.2
0.2
0.1
4.8
0.1
0.2
0.9
0.3
0.6
0.2
0.1
2.3
0.1
0.1
0.0
0.1
0.1
0.2
0.5
0.0
2.9
0.0
0.0
0.5
0.2
0.6
0.2
0.2
1.7
0.1
0.2
0.0
0.3
0.1
0.5
1.1
0.1
3.0
0.0
0.0
0.5
0.1
0.7
0.3
0.2
1.9
0.1
0.0
0.0
0.0
0.0
0.1
0.2
0.0
2.2
Nov*
0.6
0.1
0.6
0.2
0.2
0.3
0.3
2.4
0.1
0.8
0.0
0.3
0.1
0.2
1.5
0.1
4.0
2008
2009
0.7
0.2
0.7
0.3
0.2
0.3
0.4
2.9
0.1
0.4
0.0
0.5
0.1
0.5
1.5
0.1
4.5
1.1
0.6
0.7
0.4
1.0
0.8
1.1
5.7
0.1
4.1
0.2
2.4
0.9
3.9
11.5
0.1
17.3
Forecast Demolition
Million GT
2000
2001
2002
2003
2004
2005
2006
2007
0.0
0.1
0.0
0.1
0.2
0.0
0.0
0.0
2.4
2.7
0.0
0.0
0.0
0.1
0.5
0.0
0.0
0.0
2.2
2.9
0.0
0.4
0.0
0.1
1.1
0.0
0.0
0.0
1.8
3.4
0.0
0.3
0.0
0.0
0.5
0.0
0.0
0.0
1.6
2.4
0.0
0.3
0.0
0.0
0.1
0.0
0.0
0.0
0.7
1.1
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.3
0.4
0.0
0.1
0.0
0.1
0.3
0.0
0.1
0.0
0.6
1.2
0.0
0.4
0.0
0.1
0.3
0.0
0.0
0.1
0.7
1.6
Total
Demolition
2000
2001
2002
2003
2004
2005
2006
2007
All Vessels Types
12.6
15.7
16.0
15.3
5.8
3.3
4.2
3.8
Nov*
0.1
0.4
0.0
0.2
0.9
0.0
0.0
0.1
1.1
2.8
2008
2009
0.0
0.4
0.0
0.2
1.1
0.1
0.0
0.0
1.3
3.2
0.0
0.4
0.0
0.2
1.3
0.1
0.0
0.0
1.4
3.5
Forecast Demolition
Million GT
Nov*
6.7
2008
2009
7.7
20.8
<HDUWRGDWHDWHQGRISHULRG2WKHUYHVVHOVLQFOXGH)362V0335HHIHUV5R5RVKLSV3&&
Page 9
Dec-08
Recent Ship Sales for Demolition
Shipbuilding Price Trends

Tanker Newbuilding Prices
170
$m
9/&&
$IUDPD[
+DQG\
160
150
140
6XH]PD[
3DQDPD[
130
120
110
100
90
80
70
60
50
40
30
Nov-03
Feb-04
May-04
Aug-04
Nov-04
Feb-05
May-05
Aug-05
Nov-05
Feb-06
May-06
Aug-06
Nov-06
Feb-07
May-07
Aug-07
Nov-07
Feb-08
May-08
Aug-08
Nov-08
20
Bulk Vessel
Prices
VLCC
Suezmax
Aframax
Panamax
Handy
Capesize
Panamax
Handymax
Handysize
c.320,000 dwt
c.157,000 dwt
c.115,000 dwt
c.75,000 dwt
c.51,000 dwt
c.180,000 dwt
c.76,000 dwt
c.57,000 dwt
c.35,000 dwt
2000
2001
2002
2003
2004
2005
2006
2007
Nov*
76.5
52.5
41.5
70.0
46.5
36.0
32.0
26.3
36.0
20.5
18.5
15.5
63.5
43.8
34.8
31.3
27.0
36.3
21.5
19.0
15.5
77.0
51.5
41.5
37.5
31.5
48.0
27.0
24.0
18.5
110.0
71.0
59.0
48.0
40.0
64.0
36.0
30.0
24.5
120.0
71.0
58.5
50.0
43.0
59.0
36.0
30.5
26.5
129.0
80.5
65.5
58.5
47.0
68.0
40.0
36.5
29.5
146.0
90.0
72.5
63.5
52.5
97.0
55.0
48.0
38.0
152.0
92.5
77.0
63.0
48.0
89.0
47.0
43.0
33.0
29.5
40.5
22.5
20.5
16.0
2000
2001
2002
2003
2004
2005
Newbuilding
Price Index
35.0
51.0
60.0
14.0
18.0
25.0
31.5
37.5
41.5
54.0
73.0
34.0
50.0
60.0
13.0
15.5
21.5
28.0
31.0
36.0
52.0
72.0
30.8
48.5
58.0
13.0
15.5
21.0
27.0
29.5
33.0
45.0
60.0
34.0
54.0
63.0
17.5
18.5
25.5
30.5
37.0
42.5
56.5
71.0
46.0
68.0
82.5
19.5
22.5
35.0
37.0
46.5
53.0
71.0
91.0
51.0
72.0
90.0
20.5
23.0
36.0
40.0
48.5
52.5
67.5
89.0
20.0
33.0
19.0
31.0
18.5
31.0
22.0
33.0
33.0
46.0
32.9
48.3
1 Year Ago.
FIRMER...
FIRMER...
FIRMER...
STEADY...
WEAKER...
SOFTER...
WEAKER...
WEAKER...
WEAKER...
4.8%
3.9%
6.9%
-0.8%
-8.6%
-7.3%
-13.0%
-9.5%
-10.8%
Price Trends v.
Price $ million, end:
c.160,000 m
c.24,000 m 3
c.60,000 m 3
c.82,000 m 3
c.725 teu
c.1,100 teu
c.1,700 teu
c.2,000 teu
c. 2,750 teu
c.3,500 teu
c.4,500 teu
c.6,350 teu
c.8,200 teu
c.1,2-1,300 Lm
c.2,3-2,700 Lm
Price Index
% change
Price Trends v.
Price $ million, end:
Other Vessel
Prices
LNG
LPG
LPG
LPG
Container
Container
Container
Container
Container
Container
Container
Container
Container
Ro-Ro
Ro-Ro
After something of a time-delay, the effects of the

latest financial and economic crisis have trickled down
into the newbuilding sector. Newbuilding prices have been
cautiously lowered as yards seek to attract new business
and limit the effects of a potential increase in
cancellations. The sustained lack of orders must, by now,
be taking its toll on the cashflow and revenue of shipyards
and a more aggressive approach is likely to be adopted in
the new year in order to entice potential buyers back to the
marketplace.
The Newbuilding Price Index has fallen for the third
consecutive month, dropping by 7 points since October,
and now stands at 179 points. The index is now 1.4%
lower than at the same point in 2007 and further falls
remain highly probable.
Benchmark prices fell in every sector and, in keeping
with industry-wide trends, the dry bulk sector was most
adversely affected. The dry bulk index fell by 8%, from
226 to 207 points, whilst the benchmark price for a 176180K dwt Capesize fell below $90m for the first time in
over a year, since July 2007.
2006
2007
Nov*
222.0
51.0
75.5
92.0
20.5
22.0
38.0
41.5
51.0
57.0
71.0
101.0
125.0
39.4
56.5
237.0
53.5
85.0
93.0
21.0
27.5
41.0
44.0
53.0
63.0
80.0
106.5
134.0
48.0
68.7
245.0
54.0
83.0
93.0
20.0
26.0
40.0
43.0
52.0
62.0
79.5
102.0
131.0
41.9
59.6
1 Year Ago.
FIRMER...
STEADY...
STEADY...
STEADY...
SOFTER...
SOFTER...
STEADY...
STEADY...
STEADY...
STEADY...
STEADY...
SOFTER...
STEADY...
WEAKER...
WEAKER...
3.6%
0.9%
1.2%
-0.5%
-4.8%
-5.5%
-2.4%
-2.3%
-1.9%
1.9%
-3.8%
-1.5%
-13.4%
-13.8%
Price Trend v.
Index (basis Jan 88=100)

2000
2001
2002
2003
2004
2005
2006
2007
Nov*
114.2
108.5
-5.0%
105.7
-2.6%
118.7
12.3%
149.5
26.0%
161.7
8.2%
168.1
3.9%
183.9
9.4%
179.4
-2.5%
1 Year Ago.
STEADY...
-1.4%
6RXUFHV3OHDVHUHIHUWRVRXUFHVDQGPHWKRGVGRFXPHQWRQWKHLQVLGHFRYHURIWKH6KLS\DUG2UGHUERRN0RQLWRU $VDWHQGRISHULRG
Page 10
Dec-08
Price Developments
Price Summary November 2008
Investment by Vessel Type

Investment in Bulk Vessels ($bn.)
Investment Scene This Month

Newbuilding Investment Summary Nov 2008

58.2

40.5

32.8

21.1

13.0

31.8

15.8

7.3

8.6

Bulk Vessel
Investment
VLCC
> 200,000
Suezmax
120-200,000
Aframax
80-120,000
Panamax
60-80,000
Products
30-60,000
Products
10-30,000
Chem & Spec
10-60,000
Tankers
> 10,000
Tankers
< 10,000
Capesize
> 100,000
Panamax
80-100,000
Panamax
60-80,000
Handymax
40-60,000
Handysize
10-40,000
Bulkers
> 10,000
Combos
> 10,000
Total Bulk Vessels
Special Vessel
Investment
LNG Carriers
LPG Carriers
Containers
> 8,000 teu
Containers
3-8,000 teu
Containers
< 3,000 teu
Offshore
Cruise Vessels
Ro-Ro Ferries
Other
Total
Investment
All Vessels Types
st
As of 1 December 2008, contracting investment in

newbuildings totalled $133.7m. On an annualised basis
this is down by 42% from 2007s figures. The dry bulk
sector has been most heavily invested in so far in 2008,
receiving 39% ($52.2bn) of the years total investment.
However, specialised vessels are not far behind, having
received $51bn investment, which is 38% of 2008s total.
Investment in November slumped to a new nadir as
there was only $0.8bn worth of contracts placed. This is a
79% drop in investment value from the previous month of
October, and a 95% fall in investment value compared to
the monthly figures for January 2008.
Investment in Aframaxes has been low in 2008,
especially compared to 2007. On an annualised basis,
investment in this sector is down by 59% compared to
2007 and 76% compared to 2006, when investment in
Aframaxes totalled $9.7bn.
Throughout November there was no investment in
containerships. In total for 2008, $15.9bn has been
invested in this sector. June received the highest amount of
investment in a single month with $6.7bn.
Investment Trends
Value $ billion
2000
2001
2002
2003
2004
2005
2006
2007
4.1
2.8
2.2
0.2
2.0
0.1
1.3
12.7
0.3
0.8
0.1
1.1
2.1
1.1
5.3
0.0
18.3
1.7
1.3
2.8
0.8
2.6
0.0
1.2
10.5
0.6
0.7
0.1
0.5
0.9
0.6
2.8
0.1
14.0
1.0
0.7
1.7
1.3
1.9
0.0
2.0
8.5
1.0
1.6
0.3
1.7
1.9
1.0
6.5
0.0
15.9
3.3
2.4
3.8
2.7
3.7
0.1
3.4
19.4
1.0
3.1
1.0
2.5
3.3
1.4
11.3
0.0
31.8
3.5
1.6
3.4
2.3
3.5
0.3
4.9
19.6
1.4
4.6
1.3
2.2
3.2
1.6
13.0
0.0
34.0
4.1
0.5
3.4
1.6
5.2
0.4
5.9
21.0
1.4
4.1
2.2
1.8
3.7
2.2
14.1
0.0
36.6
13.4
5.9
9.7
3.0
10.3
0.3
10.7
53.4
3.0
9.3
3.6
1.5
7.5
4.9
26.8
0.5
83.8
4.9
5.2
5.7
3.2
5.4
0.2
14.0
38.5
3.5
40.2
14.1
5.1
22.1
14.9
96.2
1.1
139.3
Nov
15.7
3.9
2.1
1.0
3.8
0.3
2.5
29.2
1.3
19.0
9.3
3.6
11.1
9.2
52.2
0.0
82.7
This Year
UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
248%
-18%
-59%
-67%
-23%
25%
-81%
-17%
-58%
-48%
-28%
-22%
-45%
-33%
-41%
-100%
-35%
Investment Trends
Value $ billion
2000
2001
2002
2003
2004
2005
2006
2007
3.2
0.8
0.2
7.1
4.2
1.8
5.9
2.6
5.5
31.3
3.8
1.0
0.3
3.9
2.3
2.3
0.8
0.9
3.3
18.5
2.8
0.4
0.4
2.5
1.3
2.1
0.7
1.6
4.2
15.9
2.3
0.9
8.2
8.7
5.0
2.9
2.2
1.5
6.4
38.1
12.3
2.0
4.9
10.1
6.1
3.5
6.0
1.1
10.4
56.5
9.0
4.3
5.0
10.8
11.8
6.6
8.1
3.0
15.2
73.8
8.8
4.3
8.1
12.5
7.4
13.9
6.8
1.3
18.5
81.6
5.2
2.0
27.0
12.6
7.0
15.9
9.1
2.1
31.1
111.9
Nov
1.3
2.1
5.7
8.2
2.0
3.8
2.6
1.4
24.1
51.0
This Year
DOWN BY..
UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
-73%
11%
-77%
-29%
-69%
-74%
-69%
-26%
-16%
-50%
Investment Trends
Value $ billion
2000
2001
2002
2003
2004
2005
2006
2007
Nov
49.6
32.6
31.9
69.9
90.5
110.4
165.4
251.2
133.7
This Year
DOWN BY.
-42%
The revised methodology for calculating shipbuilding investment can be found on the inside cover of the Shipyard Orderbook Monitor. The secondhand/newbuilding price ratios
will no longer be reported in the WSM; instead they will be published in Clarkson's Shipping Review and Outlook. *Year to date at end of period.
Page 11
Dec-08
7RWDO2WKHUV
7RWDO&RQWDLQHU
7RWDO*DV
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7RWDO7DQNHUV
Investment by Owner Country/Region

Newbuilding Investors Summary November 2008


12.1

1.7

0.3

0.6

1.3

1.1

3.1

19.8

Major
Investors
2004
2005
2006
2007 2008*
Greece
Germany
Denmark
Norway
Italy
Turkey
United Kingdom
Russia
Sweden
Netherlands
France
Belgium
Other Europe
TOTAL EUROPE
China P.R.
Japan
South Korea
Singapore
Hong Kong
Taiwan
India
Indonesia
Other Asia
TOTAL ASIA
U.A.E.
Kuwait
Israel
Other Mid. East
TOTAL MID. EAST
United States
Brazil
Australia
Other
TOTAL OTHER
148
295
127
96
60
84
53
70
24
88
32
13
100
1,190
106
387
72
113
59
46
19
23
84
909
40
9
25
56
130
57
4
5
69
135
157
464
80
134
96
109
37
31
20
97
51
20
83
1,379
109
450
111
185
50
28
24
23
69
1,049
39
9
14
74
136
119
4
14
140
277
369
517
150
247
105
145
31
40
20
140
89
29
130
2,012
158
329
153
203
61
44
45
7
119
1,119
71
0
40
60
171
171
19
6
357
553
655
605
126
260
138
202
66
39
7
137
95
54
178
2,562
352
200
194
128
146
83
76
15
94
1,288
61
7
46
46
160
145
30
0
563
738
GLOBAL TOTAL
2,364
2,841
3,855
4,748
No. of Vessels
Investment Trends
Value $ billion
2004
2005
2006
2007
2008*
193
291
116
93
70
69
17
50
7
53
22
15
71
1,067
203
114
92
40
36
24
31
11
27
578
44
16
9
43
112
27
25
12
267
331
6.1
10.6
6.6
3.4
3.1
1.8
2.4
2.3
1.3
1.5
1.4
0.7
3.2
44.5
3.5
17.3
2.6
1.8
2.8
1.6
0.3
0.1
2.5
32.6
0.6
0.5
1.2
2.0
4.4
6.5
0.1
0.1
2.3
9.0
5.9
14.6
4.4
6.7
4.8
2.2
0.7
1.2
0.9
1.4
3.7
1.3
2.0
49.9
5.0
20.8
5.0
3.6
2.0
1.4
0.7
0.1
1.5
40.1
1.0
0.9
0.7
3.7
6.2
9.6
0.1
0.2
4.4
14.3
19.4
16.5
4.5
15.8
6.1
4.4
1.0
2.3
1.3
1.9
4.7
1.8
3.4
83.1
6.8
17.7
8.1
3.2
2.2
3.4
1.3
0.2
4.1
46.8
2.1
0.0
2.8
4.7
9.6
11.8
1.9
0.0
12.3
25.9
39.7
32.8
4.6
15.4
8.1
8.8
2.4
1.3
1.0
4.1
5.0
2.7
7.9
133.6
19.0
11.7
10.1
4.3
6.4
6.4
3.1
0.4
2.4
63.9
2.7
0.4
5.7
4.0
12.8
13.5
1.8
0.0
25.6
40.9
17.0
15.8
7.5
5.1
4.6
4.3
1.8
1.5
1.4
1.3
1.1
1.0
3.5
65.9
11.4
6.7
6.3
2.2
2.1
1.7
1.2
0.3
0.7
32.6
2.8
2.4
2.3
2.8
10.2
5.1
2.6
0.5
16.8
25.0
2,088
90.5
110.4
165.4
251.2
133.7
This Year
DOWN BY..
-53%
DOWN BY..
-47%
UP BY.
79%
DOWN BY..
-64%
DOWN BY..
-38%
DOWN BY..
-46%
DOWN BY..
-16%
UP BY.
20%
UP BY.
54%
DOWN BY..
-66%
DOWN BY..
-76%
DOWN BY..
-59%
DOWN BY..
-52%
DOWN BY..
-46%
DOWN BY..
-35%
DOWN BY..
-38%
DOWN BY..
-32%
DOWN BY..
-43%
DOWN BY..
-65%
DOWN BY..
-70%
DOWN BY..
-57%
STEADY.
-4%
DOWN BY..
-69%
DOWN BY..
-44%
UP BY.
13%
UP BY.
507%
DOWN BY..
-56%
DOWN BY..
-25%
DOWN BY..
-13%
DOWN BY..
-59%
UP BY.
63%
#DIV/0!
#DIV/0!
DOWN BY..
-28%
DOWN BY..
-33%
DOWN BY..
-42%
&RXQWU\5HJLRQLVWKDWRIWKHFRQWUDFWLQJRZQHU <HDUWRGDWH
Page 12
Dec-08
2WKHU
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0LGGOH(DVW
(XURSH
$VLD

National investment figures are down almost across

the board compared to 2007, with the exception of only a
handful of countries. Denmark, Russia, Sweden, the
United Arab Emirates, Kuwait and Brazil are the only
nations to have invested more this year than last year.
Kuwaiti investment increased most significantly,
rising from $0.4bn in 2007 to $2.4bn so far in 2008. On an
annualised basis, this represents over a 500% increase in
money invested in new ships. The investment value
includes contracts for four 318,000 dwt VLCCs for owners
Kuwait Oil Tankers at a cost of $175m each and contracts
for nine 13,100 TEU (145,000 dwt) Post-Panamax
containerships for owners United Arab Shipping at a cost
of $166m per vessel.
Europe is still the most significant investor in
shipbuilding contracts, with $65.9bn invested so far this
year, equating to almost 50% of the total amount invested
worldwide. Asia has invested $32.6bn, around a quarter of
the total global investment. The Middle East continues to
grow as an investor and has placed shipbuilding contracts
worth $10.2bn, around 8% of worldwide investment.
23.3
Orderbook by Owner Country/Region
0LGGOH
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Other Owned Orderbook by Country

($bn)
%UD]LO

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6WDWHV

Major
Investors
2004
2005
2006
2007 2008*
2005
2006
2007 2008*
Greece
Germany
Norway
Italy
Denmark
Turkey
France
Netherlands
United Kingdom
Belgium
Russia
Sweden
Other Europe
TOTAL EUROPE
Japan
China P.R.
South Korea
Taiwan
Hong Kong
Singapore
India
Malaysia
Other Asia
TOTAL ASIA
Israel
U.A.E.
Qatar
Other Mid. East
TOTAL MID. EAST
United States
Brazil
Canada
Other
TOTAL OTHER
334
624
157
131
185
134
56
127
112
31
120
49
181
2,241
736
170
116
101
108
183
37
65
72
1,588
36
50
8
102
196
108
24
48
111
291
382
854
247
185
210
189
82
168
127
37
106
60
197
2,844
911
221
189
95
117
284
51
69
87
2,024
40
58
8
155
261
167
19
45
202
433
609
1,078
414
223
289
276
146
246
107
52
104
57
248
3,849
917
305
297
103
135
363
81
116
78
2,395
71
104
21
161
357
283
32
75
483
873
1,123
1,367
575
300
331
382
203
302
152
91
108
48
336
5,318
786
570
419
151
232
345
141
121
108
2,873
103
129
29
164
425
331
59
107
914
1,411
1,187
1,383
570
315
375
365
201
301
131
97
130
42
352
5,449
628
703
410
153
212
266
152
104
104
2,732
96
148
22
175
441
278
86
89
1,120
1,573
15.0
29.8
13.8
9.1
11.2
4.1
5.6
3.2
5.6
2.0
3.8
2.6
5.8
111.6
42.3
8.6
8.4
4.2
4.3
5.9
1.2
2.4
0.9
78.1
2.0
1.3
0.5
7.2
11.0
18.3
0.4
3.7
4.6
27.0
28.8
36.4
27.1
12.7
13.1
7.4
8.8
4.2
4.5
3.2
4.9
3.2
7.3
161.6
48.9
13.5
15.0
6.0
5.1
7.7
2.3
2.7
1.6
102.9
4.4
3.1
2.7
8.7
18.8
26.6
2.1
4.8
14.0
47.4
62.7
59.2
37.0
18.4
14.1
14.1
11.7
7.0
6.8
5.4
5.2
3.2
12.9
257.6
46.8
29.6
22.6
11.1
9.8
9.7
5.2
2.7
3.2
140.8
9.6
5.1
4.9
9.4
29.0
33.5
3.9
7.8
34.0
79.2
GLOBAL TOTAL
4,316
5,562
7,474 10,027 10,195
227.7
330.8
506.5
No. of Vessels
Delivery in:
Value $ billion
2008
2009
2010
2011+
73.7
65.4
36.9
19.9
17.3
16.2
12.0
7.5
6.5
5.8
5.6
3.7
14.6
285.1
39.3
37.7
24.5
11.9
10.7
9.5
5.7
2.5
3.3
145.0
11.0
7.4
4.2
10.8
33.4
33.2
6.5
6.1
49.7
95.5
2.6
4.2
3.8
1.8
1.2
1.9
1.1
1.0
0.5
0.4
0.8
0.9
1.2
21.5
4.2
2.5
1.6
0.3
0.3
1.1
0.4
0.6
0.4
11.4
0.5
0.3
1.6
0.9
3.2
1.2
0.2
0.4
2.7
4.6
20.7
18.8
13.9
6.3
4.2
4.2
3.8
2.6
1.5
2.4
2.5
0.6
4.1
85.7
13.0
8.7
7.6
1.2
3.1
3.4
1.1
0.8
0.9
39.9
2.2
2.7
2.1
2.2
9.2
11.0
1.3
2.0
10.5
24.8
26.1
23.5
11.8
6.6
4.7
5.4
4.1
2.8
3.4
1.9
1.5
0.6
4.5
96.7
9.0
11.3
8.8
4.1
4.2
1.8
1.7
0.7
0.8
42.6
2.6
1.7
0.6
2.2
7.1
9.1
1.3
1.7
13.9
26.0
24.3
18.8
7.5
5.2
7.3
4.7
3.0
1.1
1.1
1.0
0.7
1.7
4.8
81.1
13.1
15.0
6.5
6.2
3.1
3.2
2.5
0.4
1.2
51.2
5.7
2.8
0.0
5.5
13.9
11.9
3.6
1.9
22.6
40.0
559.0
40.7
159.6
172.4
186.2
&RXQWU\5HJLRQLVWKDWRIWKHFRQWUDFWLQJRZQHU <HDUWRGDWH
Page 13
Dec-08
Global Orderbook by Owner Region

($bn)
Orderbook by Builder Country/Vessel Type
Handysize 1040,000 dwt
Container
>3,000 teu
Container
<3,000 teu
2
61
39
3
105
5
2
7
12
12
201
507
247
35
990
2
7
4
62
11
37
123
6
19
4
29
194
225
349
22
790
8
6
5
8
27
-
245
99
398
28
770
-
191
92
521
164
968
3
2
9
14
1
1
229
214
371
74
888
3
1
1
3
8
-
17
70
11
98
1
1
-
64
69
34
6
173
4
2
2
4
3
6
21
4
4
8
39
449
40
153
29
710
11
2
7
22
42
-
23
46
21
252
17
359
70
10
1
26
16
7
130
5
5
GLOBAL TOTAL
253
177
254
124 1,142
817
770
983
896
99
202
752
494 1,013 2,219 10,195
17
176
15
209
261
888
329
220
622 1,493
13
57
8
2
10
14
41
12
188
56
53
7
136
1
107
15
21
8
26
13
130
261
657
33
3
61
20
36
46
130
69
Total
Handymax 4060,000 dwt
73
111
59
5
248
1
1
5
5
Other
Panamax 60100,000 dwt
1
109
57
167
10
10
Offshore
Capesize >
100,000 dwt
44
124
81
4
253
-
LPG Carriers
Handy 1060,000 dwt
Japan
South Korea
Taiwan
China P.R.
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
United States
Others
TOTAL OTHERS
LNG Carriers
Specialised Vessels
Aframax 80120,000 dwt
Bulkers
Suezmax 120200,000 dwt
Tankers
VLCC >
200,000 dwt
Shipbuilding
Country /
Region
1,516
2,400
61
3,721
936
8,634
160
18
12
57
212
118
7
141
209
63
13
45
237
1,292
79
100
90
269
Value of Vessels on Order at 1st Dec 2008 ($bn)

Bulkers
Handy 1060,000 dwt
Capesize >
100,000 dwt
LNG Carriers
LPG Carriers
Container
>3,000 teu
Container
<3,000 teu
Offshore
Other
Total
Specialised Vessels
Tankers
VLCC >
200,000 dwt
Shipbuilding
Country /
Region
Japan
South Korea
Taiwan
China P.R.
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
United States
Others
TOTAL OTHERS
5.5
18.1
10.1
0.6
34.2
-
0.1
9.5
4.3
13.9
0.8
0.8
4.8
7.8
3.8
0.3
16.7
0.1
0.1
0.5
0.5
0.1
3.6
2.2
0.1
6.0
0.2
0.1
0.4
0.9
0.9
8.0
21.4
8.3
1.1
38.8
0.0
0.2
0.4
1.8
0.5
1.5
4.4
0.4
1.0
0.2
1.6
15.9
20.4
28.7
2.0
67.0
0.8
0.5
0.5
0.7
2.5
-
11.0
5.2
20.3
1.1
37.7
-
8.2
4.5
21.5
5.9
40.1
0.1
0.1
0.4
0.6
0.0
0.0
7.2
7.5
11.3
2.3
28.3
0.1
0.0
0.0
0.1
0.2
-
3.3
17.0
0.8
21.1
0.1
0.1
-
2.7
4.2
0.7
0.1
7.7
0.3
0.0
0.0
0.1
0.1
0.1
0.6
0.2
0.0
0.2
3.9
52.7
3.3
11.9
2.6
74.5
0.6
0.3
0.3
1.9
3.0
-
0.9
2.1
0.9
7.7
0.3
11.9
2.4
0.2
0.0
1.0
0.7
0.1
4.4
0.3
0.3
0.5
1.6
4.8
7.5
14.3
0.5
0.5
1.1
2.0
8.4
0.2
0.1
12.7
0.9
0.9
0.9
2.7
8.2
39.3
22.9
3.7
74.2
9.1
0.6
3.6
10.1
1.3
1.9
4.3
1.5
1.0
0.1
1.1
1.6
36.1
0.0
0.3
0.2
0.5
80.3
215.1
4.2
159.2
27.8
486.5
13.0
1.6
3.6
10.7
2.6
4.2
4.3
8.7
5.0
2.3
0.6
2.0
6.7
65.1
4.0
2.2
1.3
7.4
GLOBAL TOTAL
34.2
14.7
17.2
7.3
44.8
69.5
37.7
40.7
28.5
21.2
8.5
77.5
16.5
29.7 110.8
559.0
Page 14
Dec-08
Number on Order at 1st Dec 2008
Orderbook by Builder Country/Vessel Type
Capesize >
100,000 dwt
LNG Carriers
LPG Carriers
Container
>3,000 teu
Container
<3,000 teu
Offshore
Other
Total
Japan
South Korea
Taiwan
China P.R.
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
United States
Others
TOTAL OTHERS
13.3
39.3
24.6
1.2
78.4
-
0.1
17.1
9.0
26.2
1.5
1.5
7.9
12.4
6.4
0.5
27.3
0.1
0.1
0.5
0.5
0.1
4.5
2.9
0.2
7.7
0.4
0.1
0.5
0.9
0.9
6.2 38.6
18.4 41.0
6.7 64.1
1.0
3.9
32.4 147.7
0.1
1.4
0.2
0.2
1.0
1.1
0.9
0.5
1.3
1.4
3.2
4.8
0.3
0.9
0.2
1.4
-
19.3
8.2
33.3
2.1
62.8
-
10.5
5.3
29.4
9.1
54.3
0.2
0.1
0.5
0.8
0.0
0.0
7.1
7.1
11.7
2.1
27.9
0.1
0.0
0.0
0.1
0.2
-
1.3
7.1
0.3
8.7
0.0
0.0
-
1.1
1.8
0.2
0.0
3.1
0.1
0.0
0.0
0.0
0.0
0.1
0.2
0.0
0.0
0.1
3.2
43.7
2.7
10.0
2.2
61.8
0.5
0.2
0.3
1.5
2.5
-
0.5
1.3
0.5
4.9
0.3
7.5
1.4
0.1
0.0
0.4
0.5
0.1
2.5
0.2
0.2
0.0
0.1
0.6
0.8
1.5
0.0
0.0
0.0
0.1
0.2
0.6
0.0
0.0
1.1
0.1
0.2
0.1
0.4
2.2
10.4
10.3
1.5
24.4
0.6
0.1
0.0
0.3
0.7
0.3
0.1
0.0
0.6
0.3
0.1
0.3
0.7
4.0
0.0
0.0
0.1
0.1
111.6
217.7
3.1
214.4
25.0
571.8
2.7
1.8
0.0
0.3
0.9
0.6
0.1
0.8
3.3
1.2
0.9
1.4
5.7
19.8
3.6
1.1
0.4
5.1
GLOBAL TOTAL
78.4
27.7
27.9
9.1
37.0 152.5
62.8
55.2
28.1
8.7
3.4
64.2
10.2
3.0
28.5
596.7
Handy 1060,000 dwt
Specialised Vessels
Bulkers
Tankers
VLCC >
200,000 dwt
Shipbuilding
Country /
Region
Million GT on Order at 1st Dec 2008
Handy 1060,000 dwt
Capesize >
100,000 dwt
LNG Carriers
LPG Carriers
Container
>3,000 teu
Container
<3,000 teu
Offshore
Other
Total
Specialised Vessels
Bulkers
Tankers
VLCC >
200,000 dwt
Shipbuilding
Country /
Region
Japan
South Korea
Taiwan
China P.R.
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
United States
Others
TOTAL OTHERS
6.9
19.8
12.7
0.6
40.1
-
0.1
8.9
4.7
13.6
0.8
0.8
4.3
6.8
3.5
0.3
14.9
0.1
0.1
0.3
0.3
0.1
2.5
1.6
0.1
4.4
0.2
0.1
0.3
0.5
0.5
3.7
11.3
4.2
0.6
19.9
0.0
0.1
0.1
0.6
0.3
0.8
2.0
0.2
0.6
0.1
0.8
19.5
20.8
32.5
2.0
74.9
0.7
0.6
0.4
0.7
2.4
-
10.7
4.4
18.3
1.1
34.5
-
6.2
3.1
17.0
5.3
31.5
0.1
0.1
0.3
0.4
0.0
0.0
4.3
4.3
7.2
1.3
17.2
0.1
0.0
0.0
0.0
0.1
-
1.8
8.3
0.4
10.4
0.0
0.0
-
1.0
1.5
0.2
0.0
2.7
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
3.2
40.9
2.4
8.8
2.0
57.2
0.4
0.2
0.3
1.4
2.3
-
0.4
1.1
0.4
4.0
0.2
6.1
1.1
0.1
0.0
0.3
0.5
0.1
2.1
0.1
0.1
0.0
0.1
0.6
0.9
1.6
0.1
0.0
0.0
0.1
0.3
0.7
0.0
0.0
1.3
0.1
0.1
0.1
0.3
4.8
9.0
9.4
1.7
24.9
1.7
0.2
0.8
1.7
0.5
0.5
0.8
0.0
0.4
0.4
0.0
0.7
0.6
8.4
0.0
0.0
0.1
0.1
67.0
142.9
2.8
125.0
16.2
353.9
3.4
1.2
0.9
1.8
0.8
0.9
0.8
0.8
2.0
1.2
0.5
1.3
4.1
19.5
2.0
0.7
0.3
3.1
GLOBAL TOTAL
40.1
14.4
15.2
5.1
22.7
77.3
34.5
32.0
17.3
10.4
2.9
59.5
8.3
3.3
33.5
376.5
Page 15
Dec-08
Million DWT on Order at 1st Dec 2008
Orderbook by Country/Region
Asian Orderbook 2008 by CGT
2WKHU$VLD

(XURSH

P.R. China
36%
2WKHUV

-DSDQ

Other Asia
7%
South
Korea
39%
Japan
18%
European Orderbook 2008 by CGT

&URDWLD

3RODQG

6RXWK
.RUHD

35&KLQD

2WKHU
(XURSH

6SDLQ

,WDO\

*HUPDQ\

Source (all graphs): Clarkson Research Services
Major
Shipbuilders
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
GLOBAL TOTAL
Delivery in:
No. end:
$ billion
m. DWT, end:
2007 Nov*
2007 Nov*
2005
2006
2007 2008*
1,633
2,224
66
3,424
886
8,233
187
21
12
71
250
128
8
172
281
73
15
48
220
1,486
70
145
93
308
1,516
2,400
61
3,721
936
8,634
160
18
12
57
212
118
7
141
209
63
13
45
237
1,292
79
100
90
269
82.2
183.5
4.4
133.0
23.5
426.5
14.0
2.0
4.0
13.4
2.9
3.5
4.4
10.1
6.2
2.7
0.6
2.1
6.3
72.2
3.8
2.6
1.4
7.8
80.3
215.1
4.2
159.2
27.8
486.5
13.0
1.6
3.6
10.7
2.6
4.2
4.3
8.7
5.0
2.3
0.6
2.0
6.7
65.1
4.0
2.2
1.3
7.4
89.1
78.4
3.0
44.6
6.2
221.2
4.3
2.2
0.2
0.4
0.8
0.5
0.1
0.4
1.5
2.0
0.1
2.8
3.0
18.4
0.1
0.9
0.3
1.4
109.2
112.6
3.0
86.3
11.0
322.1
4.1
1.5
0.1
0.4
1.1
0.7
0.1
0.9
2.3
1.7
0.1
2.5
3.3
18.8
1.2
1.0
0.3
2.5
116.7
181.0
3.4
176.8
20.9
498.7
3.5
2.4
0.0
0.4
1.1
0.7
0.1
1.0
3.9
1.4
0.9
1.8
5.3
22.6
3.4
1.2
0.4
5.0
10,027 10,195
506.5
559.0
241.0
343.4
526.3
2008
2009
2010
2011+
111.6
217.7
3.1
214.4
25.0
571.8
2.7
1.8
0.0
0.3
0.9
0.6
0.1
0.8
3.3
1.2
0.9
1.4
5.7
19.8
3.6
1.1
0.4
5.1
6.8
7.6
0.1
10.6
2.2
27.3
0.3
0.2
0.0
0.1
0.3
0.2
0.0
0.1
0.7
0.3
0.0
0.2
0.7
3.2
0.1
0.1
0.0
0.2
31.3
59.8
1.0
56.2
5.9
154.2
1.2
0.8
0.0
0.1
0.4
0.3
0.0
0.4
1.2
0.6
0.0
0.8
1.9
7.7
0.4
0.4
0.1
0.9
29.2
74.0
0.9
76.2
8.4
188.8
1.0
0.8
0.0
0.1
0.2
0.1
0.0
0.2
0.8
0.2
0.2
0.3
2.0
5.8
1.2
0.4
0.3
1.8
44.2
76.3
1.1
71.4
8.6
201.5
0.2
0.0
0.0
0.1
0.1
0.1
0.0
0.1
0.6
0.0
0.7
0.2
1.1
3.2
1.9
0.1
0.1
2.1
596.7
30.7
162.8
196.4
206.8
ODWHVW\HDUWRGDWHILJXUH
Page 16
Dec-08
Global Orderbook 2008 by CGT
Orderbook by Country/Region
Delivery in:
Million CGT
2001
2002
2003
2004
2005
2006
2007
2008*
2008
2009
2010
2011+
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
12.0
14.6
0.5
4.8
0.7
32.7
2.1
0.5
0.8
2.0
0.6
0.8
0.8
0.6
0.3
1.0
0.1
1.1
0.9
11.6
0.1
0.8
0.1
1.0
13.7
15.0
0.5
5.2
1.0
35.4
1.5
0.3
0.6
1.6
0.7
0.8
0.5
0.4
0.4
0.8
0.2
0.9
0.8
9.4
0.1
0.8
0.2
1.1
20.5
24.2
1.0
8.4
1.3
55.5
2.0
0.5
0.3
1.2
0.6
0.5
0.4
0.1
0.5
1.2
0.2
1.1
0.9
9.7
0.2
0.5
0.2
0.9
25.0
31.9
1.2
12.2
2.6
72.8
2.4
0.9
0.5
1.5
0.6
0.3
0.4
0.4
0.9
1.7
0.1
1.5
1.4
12.5
0.2
0.4
0.2
0.8
28.2
35.0
1.3
17.1
3.4
85.1
3.7
0.9
0.7
2.4
0.8
0.6
0.8
0.7
1.5
1.5
0.1
1.5
2.1
17.3
0.2
0.6
0.3
1.0
32.8
44.9
1.4
30.0
5.8
114.9
3.7
0.6
0.8
2.5
1.2
0.9
0.7
1.4
2.2
1.4
0.1
1.3
2.4
19.3
0.5
0.8
0.3
1.7
34.4
65.5
1.8
55.0
9.3
166.0
3.6
0.7
0.8
2.7
1.2
1.1
0.7
1.6
2.8
1.2
0.2
1.0
2.9
20.4
1.0
0.9
0.5
2.5
31.4
69.7
1.6
62.3
10.4
175.5
3.1
0.5
0.9
2.1
1.0
1.2
0.7
1.3
2.2
0.9
0.2
0.9
3.0
18.0
1.2
0.8
0.5
2.4
2.8
3.7
0.1
5.1
1.6
13.2
0.2
0.1
0.1
0.1
0.3
0.3
0.0
0.3
0.7
0.2
0.0
0.1
0.7
3.3
0.1
0.2
0.1
0.4
9.8
21.2
0.5
18.2
3.0
52.7
1.1
0.2
0.3
0.7
0.4
0.4
0.2
0.5
1.0
0.5
0.0
0.4
1.0
6.8
0.2
0.3
0.2
0.6
8.2
22.2
0.5
21.4
3.2
55.5
1.0
0.2
0.3
0.7
0.2
0.2
0.2
0.4
0.3
0.2
0.0
0.2
0.7
4.6
0.3
0.2
0.2
0.8
10.6
22.7
0.6
17.6
2.7
54.2
0.9
0.0
0.2
0.5
0.1
0.2
0.2
0.2
0.2
0.0
0.1
0.2
0.5
3.3
0.5
0.1
0.0
0.6
GLOBAL TOTAL
45.3
45.9
66.1
86.2
103.4
135.9
188.9
195.9
16.9
60.1
60.8
58.1
Major
Shipbuilders
Delivery in:
Million GT
2001
2002
2003
2004
2005
2006
2007
2008*
2008
2009
2010
2011+
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
24.3
29.6
1.0
7.6
0.6
63.2
2.4
1.0
0.7
1.9
0.4
0.9
0.7
0.4
0.2
1.5
0.1
1.5
0.9
12.6
0.0
1.3
0.1
1.4
26.6
29.5
1.0
8.6
1.3
66.9
1.7
0.6
0.5
1.6
0.5
0.9
0.5
0.3
0.2
1.3
0.1
1.2
0.7
9.9
0.1
1.1
0.1
1.3
41.7
46.1
1.9
15.1
1.6
106.4
2.4
1.0
0.3
1.2
0.4
0.5
0.4
0.1
0.3
1.9
0.2
1.6
0.9
11.1
0.1
0.8
0.1
1.0
51.6
57.1
2.1
21.1
3.3
135.1
2.9
2.1
0.5
1.5
0.4
0.2
0.5
0.2
0.6
2.5
0.1
2.3
1.5
15.2
0.1
0.6
0.1
0.8
57.0
60.2
2.3
28.1
4.1
151.7
4.4
2.2
0.7
2.3
0.5
0.5
0.9
0.4
1.1
2.1
0.1
2.3
2.4
19.9
0.1
0.6
0.2
0.9
68.3
80.4
2.5
52.5
7.6
211.3
4.3
1.4
0.8
2.3
0.8
0.7
0.8
0.9
1.6
2.0
0.1
2.0
2.8
20.7
0.7
0.7
0.2
1.7
72.0
125.3
3.0
104.7
14.0
319.0
4.1
1.7
0.8
2.4
0.8
0.8
0.8
1.0
2.4
1.6
0.5
1.6
3.9
22.4
1.9
0.8
0.3
3.0
67.0
142.9
2.8
125.0
16.2
353.9
3.4
1.2
0.9
1.8
0.8
0.9
0.8
0.8
2.0
1.2
0.5
1.3
4.1
19.5
2.0
0.7
0.3
3.1
5.0
5.6
0.1
6.7
1.6
19.0
0.2
0.2
0.1
0.1
0.2
0.2
0.0
0.2
0.5
0.3
0.0
0.2
0.7
2.9
0.1
0.1
0.0
0.2
20.0
40.0
0.9
33.5
4.0
98.4
1.2
0.5
0.3
0.6
0.3
0.3
0.3
0.3
0.8
0.7
0.0
0.6
1.4
7.3
0.3
0.3
0.1
0.6
17.3
46.9
0.9
44.2
5.4
114.6
1.2
0.5
0.2
0.6
0.1
0.2
0.3
0.2
0.4
0.2
0.1
0.3
1.2
5.4
0.6
0.3
0.2
1.1
24.7
50.5
0.9
40.6
5.2
121.9
0.8
0.0
0.2
0.5
0.1
0.1
0.2
0.1
0.3
0.0
0.4
0.2
0.9
3.9
1.1
0.1
0.0
1.2
GLOBAL TOTAL
77.2
78.1
118.5
151.1
172.5
233.7
344.4
376.5
22.1
106.3
121.2
126.9
ODWHVW\HDUWRGDWHILJXUH
Page 17
Dec-08
Major
Shipbuilders
Contracting by Country/Region
$VLD
2WKHU

2WKHU'U\

%XON

-DSDQHVH&RQWUDFWVLQ*7
2WKHU'U\

7DQNHU *DV
&RQWDLQHU

2WKHU

%XON

Major
Shipbuilders
st
Contracting at Asian yards, as of 1 December 2008,

stands at 1,858 vessels of 143.9m dwt and 38.1m CGT.
Contracting in the Asian continent is far higher than in
any other region and, in deadweight terms, represents
98% of total worldwide contracting in 2008. Of the
$133.7bn invested in shipbuilding contracts worldwide,
Asian yards accounted for 93%. In addition to this, just
fewer than 90% of the vessels contracted in 2008 have
been in Asia. Despite the dominance, things are not as
rosy as in 2007 and, on an annualised basis, the amount of
dwt contracted is down by 37%. Asian contracting activity
is composed of around 50% dry bulk vessels, 30% tankers
and 12% containerships. The remaining 8% is comprised
of gas vessels (2%) and other miscellaneous vessels (6%).
-DSDQ
Japanese contracting has been on the slide recently
and has slumped to unprecedented levels of inactivity.
There were no contracts reported in November. This has
not occurred for almost 13 years, since January 1996, and
does not bode well for the future prospects of the Japanese
shipbuilding industry. However, things might not be as
bad as they seem and it is highly possible that this
apparent lack of contracting may be the result of late
reporting. It remains to be seen to what extent this is the
case. Regardless of this, Japan has still attracted just under
18m deadweight tonnes worth of contracts in the year-tost
date (as of 1 December), making it the third biggest
shipbuilding contractor in the world.
/1* /3*

&RQWDLQHU

7DQNHU

No. end:
$ billion
2007 Nov*
2007 Nov*
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
580
1,196
28
1,879
372
4,055
55
14
6
24
92
46
2
63
122
18
9
12
77
540
35
56
62
153
276
604
7
785
186
1,858
32
2
3
4
35
22
3
11
7
7
0
12
55
193
13
5
19
37
28.1
97.3
1.8
80.4
12.6
220.1
4.7
1.2
0.6
5.2
1.2
1.8
1.6
4.3
2.7
0.4
0.5
0.4
2.8
27.5
1.8
0.8
1.0
3.6
GLOBAL TOTAL
4,748
2,088
251.2
Trends This Year
m. DWT, end:
vs. Last Year
2004
2005
2006
2007
2008*
15.2
62.7
0.5
40.1
6.2
124.7
2.4
0.1
0.0
0.5
0.6
1.1
1.4
0.5
0.2
0.2
0.0
0.5
1.2
8.7
0.3
0.1
0.0
0.3
38.8
34.3
1.2
16.8
3.6
94.7
1.4
1.3
0.1
0.1
0.3
0.1
0.1
0.2
0.6
1.0
0.0
1.8
1.1
8.0
0.0
0.1
0.0
0.1
33.6
27.3
0.9
20.7
1.9
84.4
2.8
0.7
0.0
0.2
0.6
0.3
0.0
0.3
1.0
0.4
0.0
0.5
1.6
8.5
0.1
0.5
0.2
0.8
49.6
59.5
1.0
54.6
5.9
170.6
1.2
0.0
0.0
0.1
0.6
0.3
0.0
0.7
1.2
0.3
0.0
0.3
1.2
5.9
1.1
0.6
0.0
1.7
34.8
97.0
1.3
106.7
11.1
251.0
0.9
1.5
0.0
0.1
0.3
0.3
0.0
0.3
2.2
0.1
0.9
0.3
2.8
9.8
2.2
0.4
0.1
2.7
17.9
66.0
0.4
54.3
5.4
143.9
0.5
0.0
0.0
0.0
0.2
0.1
0.0
0.0
0.1
0.1
0.0
0.2
1.1
2.2
0.2
0.0
0.1
0.3
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
-44%
-26%
-69%
-45%
-47%
-37%
-43%
-98%
-100%
-76%
-28%
-70%
-56%
-84%
-96%
13%
-100%
-33%
-59%
-75%
-90%
-96%
-49%
-89%
133.7
102.8
93.7
178.2
263.4
146.4
DOWN BY..
-39%
<HDUWRGDWH
Page 18
Dec-08
Asian Contracts in 2008 (GT)
Contracting by Country/Region
Trends This Year
Million CGT
2000
2001
2002
2003
2004
2005
2006
2007
2008*
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
7.1
9.8
0.3
2.0
0.3
19.5
1.3
0.0
0.2
1.0
0.4
0.4
0.5
0.4
0.2
1.0
0.0
0.5
0.3
6.1
0.0
0.4
0.1
0.5
6.4
5.4
0.1
2.0
0.4
14.4
0.6
0.5
0.2
0.2
0.4
0.4
0.0
0.3
0.2
0.1
0.0
0.5
0.2
3.6
0.0
0.3
0.1
0.4
7.9
6.5
0.3
2.1
0.7
17.5
0.5
0.0
0.1
0.2
0.4
0.2
0.1
0.2
0.2
0.2
0.1
0.1
0.2
2.6
0.1
0.3
0.1
0.5
13.2
16.0
0.8
5.7
0.7
36.5
1.4
0.4
0.1
0.4
0.2
0.1
0.2
0.1
0.4
0.7
0.0
0.5
0.4
4.9
0.1
0.1
0.1
0.3
12.1
15.6
0.5
6.6
1.7
36.5
1.2
0.6
0.3
1.0
0.3
0.2
0.3
0.4
0.6
0.8
0.0
0.8
0.8
7.2
0.0
0.1
0.1
0.2
11.3
12.3
0.5
8.5
1.5
34.2
2.4
0.3
0.3
1.2
0.5
0.4
0.4
0.5
1.0
0.3
0.0
0.4
1.1
8.8
0.1
0.4
0.1
0.6
13.8
20.9
0.5
17.6
3.3
56.2
1.2
0.0
0.4
0.7
0.7
0.5
0.2
1.0
1.1
0.4
0.0
0.1
0.8
7.1
0.4
0.5
0.2
1.0
10.5
32.7
0.7
31.3
4.4
79.6
1.1
0.4
0.1
0.9
0.4
0.4
0.2
0.6
1.2
0.1
0.2
0.2
1.1
7.0
0.6
0.3
0.3
1.2
4.9
16.9
0.2
14.2
2.0
38.1
0.6
0.0
0.2
0.1
0.2
0.3
0.2
0.1
0.1
0.1
0.0
0.2
0.5
2.6
0.2
0.0
0.1
0.2
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
-49%
-44%
-71%
-50%
-50%
-48%
-43%
-88%
78%
-89%
-45%
-26%
12%
-81%
-93%
-53%
-100%
-19%
-51%
-60%
-72%
-91%
-77%
-78%
GLOBAL TOTAL
26.1
18.5
20.5
41.7
43.9
43.6
64.3
87.8
40.9
DOWN BY..
-49%
Major
Shipbuilders
Trends This Year
Million GT
2000
2001
2002
2003
2004
2005
2006
2007
2008*
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
14.2
20.5
0.4
2.9
0.3
38.4
1.5
0.0
0.2
1.0
0.3
0.4
0.5
0.3
0.1
1.4
0.0
0.8
0.2
6.7
0.0
0.6
0.1
0.6
12.4
9.7
0.1
3.2
0.4
25.7
0.8
0.9
0.1
0.2
0.3
0.4
0.0
0.1
0.1
0.1
0.0
0.7
0.2
4.0
0.0
0.3
0.0
0.3
14.4
12.6
0.6
3.4
1.0
32.1
0.5
0.0
0.1
0.2
0.3
0.2
0.2
0.1
0.1
0.4
0.1
0.2
0.1
2.3
0.0
0.1
0.1
0.2
27.6
30.6
1.6
10.4
0.7
70.9
1.7
0.8
0.1
0.3
0.2
0.0
0.2
0.0
0.2
1.0
0.0
0.8
0.4
5.8
0.1
0.1
0.1
0.2
24.5
26.2
0.9
10.8
2.3
64.6
1.5
1.4
0.3
1.0
0.2
0.1
0.3
0.2
0.4
1.3
0.0
1.3
0.9
8.8
0.0
0.1
0.0
0.1
21.6
20.8
0.8
13.1
1.4
57.6
2.8
0.6
0.3
1.1
0.3
0.3
0.4
0.3
0.7
0.3
0.0
0.7
1.3
9.3
0.0
0.4
0.1
0.5
29.6
39.4
0.9
32.3
4.3
106.5
1.4
0.0
0.4
0.5
0.5
0.4
0.2
0.6
0.8
0.6
0.0
0.2
1.0
6.6
0.6
0.4
0.1
1.1
21.1
65.7
1.2
62.3
7.2
157.5
1.2
0.9
0.1
0.8
0.3
0.3
0.3
0.4
1.3
0.1
0.5
0.3
1.8
8.0
1.2
0.2
0.1
1.6
10.2
39.1
0.3
31.0
3.1
83.8
0.6
0.1
0.2
0.1
0.2
0.2
0.3
0.1
0.1
0.0
0.0
0.2
0.6
2.5
0.2
0.0
0.0
0.2
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
UP BY.
DOWN BY..
DOWN BY..
DOWN BY..
STEADY.
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
DOWN BY..
-47%
-35%
-72%
-46%
-52%
-42%
-45%
-93%
96%
-89%
-35%
-23%
4%
-80%
-95%
-49%
-100%
-21%
-63%
-66%
-85%
-95%
-68%
-85%
GLOBAL TOTAL
45.8
30.1
34.6
76.9
73.5
67.4
114.1
167.1
86.5
DOWN BY..
-43%
<HDUWRGDWH
Page 19
Dec-08
Major
Shipbuilders
Deliveries by Country/Region
m. CGT
70
Delivery Trends to 2011
50
40
30
Output is currently
estimated to peak
in 2010
20
10
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
50% %
Country/Regional Shares
40%
S.Korea
30%
China
Japan
Europe
20%
10%
2011
2010
2009
2007
2006
2005
2004
2003
Major
Shipbuilders
2008
Others
0%
No. end:
$ billion
2007 Nov*
2007 Nov*
Delivery Trends
m. DWT, end:
2005
2006
2007 2008*
2008
2009
2010
2011
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
455
417
16
499
209
1,596
71
4
4
23
101
43
5
45
83
19
6
21
72
497
10
62
22
94
393
428
12
488
135
1,456
58
5
3
18
73
31
4
42
79
17
2
15
37
384
5
49
22
76
17.2
25.5
0.7
12.5
2.1
57.9
3.3
0.4
0.9
3.0
1.1
0.8
1.2
1.9
1.2
0.7
0.1
0.7
1.1
16.4
0.3
0.6
0.2
1.1
17.2
31.1
0.7
13.9
1.9
64.8
3.4
0.6
0.4
3.2
0.8
0.5
1.6
1.9
1.4
0.6
0.0
0.6
0.8
15.8
0.1
0.5
0.2
0.7
26.9
26.4
0.7
9.8
0.9
64.8
1.4
0.6
0.0
0.1
0.2
0.0
0.0
0.1
0.3
0.6
0.1
1.0
0.6
5.0
0.0
0.5
0.0
0.5
29.4
25.4
1.0
12.8
1.1
69.7
1.4
0.7
0.1
0.1
0.3
0.1
0.1
0.2
0.4
0.6
0.0
0.7
0.9
5.6
0.0
0.5
0.1
0.5
27.4
28.7
0.9
16.2
1.2
74.4
1.5
0.6
0.1
0.1
0.4
0.2
0.0
0.2
0.7
0.3
0.0
0.9
0.8
5.9
0.0
0.2
0.0
0.2
23.0
29.2
0.6
16.7
1.3
70.8
1.2
0.6
0.0
0.1
0.3
0.2
0.0
0.3
0.7
0.3
0.0
0.6
0.6
5.0
0.1
0.1
0.0
0.2
29.6
36.5
0.7
27.1
3.4
97.3
1.5
0.9
0.0
0.2
0.6
0.4
0.0
0.4
1.4
0.6
0.0
0.7
1.3
8.1
0.1
0.3
0.1
0.5
30.6
58.0
1.0
55.2
5.8
150.6
1.2
0.8
0.0
0.1
0.4
0.3
0.0
0.4
1.2
0.6
0.0
0.7
1.9
7.6
0.4
0.4
0.1
0.9
29.3
73.5
0.9
75.8
8.3
187.8
1.0
0.8
0.0
0.1
0.2
0.1
0.0
0.2
0.8
0.2
0.2
0.3
2.0
5.8
1.2
0.4
0.3
1.8
22.7
66.1
0.5
56.0
6.7
152.0
0.2
0.0
0.0
0.0
0.1
0.1
0.0
0.1
0.6
0.0
0.2
0.2
0.8
2.2
1.1
0.1
0.1
1.3
GLOBAL TOTAL
2,187
1,916
75.5
81.3
70.3
75.8
80.6
76.0
105.9
159.0
195.4
155.7
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Page 20
Dec-08
60

So far in 2008 (as of 1st December) 1,916 vessels of
76.0m dwt have been delivered. China has delivered
more vessels than any other nation so far in 2008, making
488 deliveries. This is over 25% of the total number of
vessels delivered this year. Korea has delivered the most
by deadweight, having supplied owners with 29.2m dwt.
This is 38% of total deadweight deliveries in 2008.
The number of vessels delivered in 2008 looks set
to be a similar number as was delivered in the previous
year. The amount of deadweight delivered looks set to be
marginally higher, increasing by around 4%.
In 2008, Asian deliveries, based on contract price
rather than actual value, are worth $64.8bn, which is 80%
of the value of all global deliveries this year. On an
annualised basis, the value of Asian deliveries is 22%
higher this year than in 2007, reflecting the increased
price of newbuildings in recent years.
In Europe, German deliveries have been the most
st
valuable and are worth around $3.4bn as of 1 December,
having delivered 1.1m CGT. The value of delivered
Italian-built ships is only marginally lower at $3.2bn.
Italian deliveries, however, only total 0.7m CGT. German
shipyards cost around $4,000/CGT delivered, whereas
Italian shipyards tend to produce higher value vessels,
costing around $4,500/CGT delivered. This can be
explained by Italian shipyards expertise in specialised
vessels, such as cruise ships or offshore vessels.
Deliveries by Country/Region
0LOOLRQ&*7
Delivery Trends
2001
2002
2003
2004
2005
2006
2007
2008*
2008
2009
2010
2011
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
6.0
5.7
0.2
1.2
0.3
13.5
1.1
0.2
0.4
0.6
0.4
0.2
0.3
0.2
0.1
0.5
0.0
0.2
0.2
4.4
0.0
0.3
0.1
0.4
6.2
6.2
0.3
1.6
0.4
14.8
1.1
0.2
0.3
0.6
0.4
0.2
0.4
0.4
0.1
0.4
0.1
0.3
0.3
5.0
0.0
0.3
0.1
0.4
6.5
6.8
0.3
2.5
0.4
16.5
0.9
0.2
0.4
0.7
0.3
0.5
0.2
0.4
0.2
0.2
0.0
0.3
0.3
4.6
0.0
0.4
0.1
0.5
7.6
8.1
0.3
2.8
0.5
19.3
0.9
0.2
0.1
0.7
0.4
0.3
0.2
0.1
0.3
0.4
0.1
0.4
0.3
4.4
0.1
0.3
0.1
0.4
8.0
9.3
0.3
3.7
0.7
22.1
1.1
0.3
0.0
0.4
0.3
0.1
0.0
0.2
0.4
0.5
0.0
0.4
0.4
4.2
0.1
0.2
0.1
0.4
9.3
11.0
0.4
4.8
0.9
26.4
1.1
0.3
0.2
0.5
0.4
0.2
0.2
0.3
0.4
0.5
0.0
0.4
0.5
5.1
0.1
0.2
0.1
0.4
8.9
12.0
0.4
6.3
1.0
28.5
1.2
0.3
0.2
0.7
0.4
0.3
0.3
0.4
0.7
0.3
0.0
0.4
0.6
5.8
0.1
0.2
0.1
0.4
7.9
12.7
0.3
6.8
0.8
28.6
1.1
0.3
0.1
0.7
0.3
0.2
0.3
0.4
0.7
0.3
0.0
0.3
0.4
5.0
0.0
0.2
0.1
0.3
10.6
16.2
0.4
11.8
2.4
41.4
1.3
0.4
0.2
0.8
0.6
0.5
0.3
0.7
1.4
0.5
0.0
0.4
1.1
8.2
0.2
0.4
0.2
0.7
9.6
20.7
0.5
17.9
2.9
51.7
1.1
0.2
0.3
0.7
0.4
0.4
0.2
0.5
1.0
0.5
0.0
0.4
1.0
6.7
0.2
0.2
0.2
0.6
8.2
22.2
0.5
21.4
3.2
55.4
1.0
0.2
0.3
0.7
0.2
0.2
0.2
0.4
0.3
0.2
0.0
0.2
0.7
4.6
0.3
0.2
0.2
0.8
5.9
19.2
0.3
14.2
2.1
41.6
0.5
0.0
0.1
0.4
0.1
0.2
0.2
0.2
0.2
0.0
0.0
0.2
0.4
2.4
0.3
0.1
0.0
0.4
GLOBAL TOTAL
18.3
20.2
21.6
24.1
26.6
31.9
34.8
33.9
50.4
59.0
60.8
44.4
Major
Shipbuilders
Delivery in:
Million GT
2001
2002
2003
2004
2005
2006
2007
2008*
2008
2009
2010
2011+
Japan
South Korea
Taiwan
P.R. China
Other Asia
TOTAL ASIA
Germany
Denmark
France
Italy
Netherlands
Spain
Finland
Norway
Turkey
Poland
Ukraine
Croatia
Other Europe
TOTAL EUROPE
Brazil
USA
Others
TOTAL OTHERS
11.8
11.9
0.4
1.8
0.4
26.2
1.1
0.3
0.3
0.6
0.2
0.2
0.3
0.1
0.1
0.6
0.0
0.3
0.2
4.5
0.0
0.4
0.0
0.4
12.1
12.8
0.7
2.5
0.4
28.5
1.2
0.4
0.2
0.6
0.3
0.2
0.4
0.2
0.1
0.6
0.1
0.4
0.3
5.1
0.0
0.3
0.0
0.4
12.5
14.1
0.7
3.9
0.4
31.6
1.0
0.4
0.4
0.7
0.2
0.4
0.2
0.2
0.1
0.4
0.0
0.4
0.2
4.7
0.0
0.4
0.0
0.4
14.6
15.5
0.7
4.8
0.4
36.1
1.0
0.3
0.1
0.6
0.3
0.4
0.2
0.1
0.1
0.6
0.1
0.6
0.3
4.7
0.0
0.3
0.0
0.3
16.1
17.8
0.6
6.1
0.6
41.3
1.3
0.5
0.0
0.3
0.2
0.1
0.0
0.1
0.2
0.7
0.0
0.6
0.4
4.6
0.0
0.3
0.0
0.4
18.4
19.2
0.7
7.9
0.7
46.9
1.4
0.7
0.2
0.5
0.2
0.1
0.3
0.2
0.3
0.7
0.0
0.5
0.6
5.7
0.0
0.3
0.0
0.4
17.4
20.8
0.7
10.1
0.9
49.8
1.4
0.7
0.2
0.7
0.3
0.2
0.3
0.2
0.5
0.5
0.0
0.7
0.6
6.4
0.0
0.1
0.1
0.2
15.2
21.5
0.5
10.8
0.9
48.9
1.2
0.6
0.1
0.7
0.2
0.1
0.3
0.3
0.5
0.5
0.0
0.5
0.5
5.3
0.0
0.1
0.0
0.2
20.1
26.9
0.6
17.3
2.5
67.4
1.4
0.8
0.2
0.8
0.4
0.4
0.3
0.4
1.0
0.8
0.0
0.6
1.1
8.2
0.1
0.2
0.1
0.4
19.6
39.0
0.9
33.0
4.0
96.3
1.2
0.5
0.3
0.6
0.3
0.3
0.3
0.3
0.8
0.6
0.0
0.6
1.4
7.2
0.3
0.3
0.1
0.6
17.4
46.6
0.9
44.0
5.4
114.2
1.2
0.5
0.2
0.6
0.2
0.2
0.3
0.2
0.4
0.2
0.1
0.3
1.2
5.5
0.6
0.3
0.2
1.1
13.0
42.9
0.5
32.0
4.1
92.4
0.5
0.0
0.1
0.4
0.1
0.1
0.2
0.1
0.3
0.0
0.1
0.2
0.6
2.7
0.6
0.1
0.0
0.7
GLOBAL TOTAL
31.1
33.9
36.7
41.0
46.3
53.0
56.4
54.4
75.9
104.1
120.7
95.9
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Page 21
Dec-08
Major
Shipbuilders
Shipyard Capacity (1)

Shipyard Feature:
December 2008 Spotlight on HHIC-Phil
2 0 08
2 0 09
2 0 10
2 0 11
Total
C gt
25,551
267,115
765,827
15
587,509
49
1,646,002
3DQ&RQW

&DSHVL]H

9/&&

$IUDPD[

3RVW
3DQDPD[

Shipbuilder..
...Shipyard
HHIC-Phil is a Philippines-based daughter yard of

Korean shipbuilder Hanjin Heavy Industries and Construction
(HHIC). Classified by Clarkson Research as a Newly
Established yard, it currently has 49 vessels of 5.8m dwt and
2.1m CGT on order. Of these, there are 29 containerships, 16
bulkers and 4 tankers on order. The largest vessels on order
are two 300,000 dwt VLCCs for U.A.E. owners Emarat
Maritime LLC, with delivery projected for mid-2011.
The yard made its first delivery in July of this year, when
it delivered the 4,300 TEU (51,400 dwt) containership CMA
CGM QUARTZ to Greek owners Dioryx Maritime
Corporation.
The shipyard in Subic Bay, Philippines, was established
in 2006 after a land lease agreement was signed by HHIC and
the Subic Bay Metropolitan Authority. This agreement
allowed the South Korean company licence to construct and
operate a $1bn shipyard at the Subic Bay Freeport Zone,
which covers an area of over 350 hectares.
The yard is expected to be fully operational by 2016 and
will provide over 20,000 jobs in the area. Recently, however,
there have been a number of safety related incidents at the
shipyard. HHIC is reassessing the shipyards health and safety
procedures in a bid to resolve this issue.
Capacity*
Docks/
Largest Dock
Berths Lgth Beam
dwt
Number
m.
m. (,000)
cgt
(,000)
Output in
Orderbook for
2007
November
No.
dwt
cgt
No.
dwt
cgt
Ulsan
South Korea
9
642
92 8,678 3,168
79 7,030 3,038
357
45,620 13,559
1
Hyundai H.I.
Koje
South Korea
3
640
98 5,444 2,086
48 4,810 2,086
231
27,557 10,832
2
Samsung H.I.
South Korea
2
530
131 5,327 1,925
43 5,069 1,859
212
31,928 10,326
3
Daewoo SB
Okpo
Ulsan
South Korea
4
380
76 2,703 1,459
67 2,703 1,459
270
10,453 5,772
4
Hyundai Mipo
Jinhae
South Korea
1
3
385
74 2,295
980
38 1,985
861
204
21,375 5,314
5
STX Shipbuild.
Samho
South Korea
2
500
100 3,446 1,000
24 3,446
794
132
16,483 4,957
6
Hyundai Samho
China P.R.
6
9
674
96 2,967
829
29 2,967
829
122
20,498 3,780
7
Dalian Shipbld. Ind. Dalian
4
9
580
120
297
44
131
15,280 3,577
8
Jiangnan Changxing Changxing IslaChina P.R.
Tongyoung South Korea
930
262
13
930
253
114
17,180 3,297
9
Sungdong S.B.
Nantong
China P.R.
3
520
102
226
58
88
16,013 2,821
10
Jiangsu Rongsheng
Shanghai
China P.R.
2
3
540
106 3,222
627
19 3,104
560
81
15,221 2,589
11
Waigaoqiao S/Y
2
299
80 1,948
536
30 1,948
536
128
8,575 2,313
12
Oshima S.B. Co.
Oshima
Japan
Numakuma Japan
1
2
330
55 2,784
671
31 2,376
617
111
9,358 2,312
13
Tsuneishi Zosen
Shanghai
China P.R.
1
360
92 1,120
381
14
811
279
96
6,803 2,273
14
Hudong Zhonghua
Jingjiang
China P.R.
1
2 1,000
90
302
169
87
5,874 2,103
15
Jiangsu New YZJ
Chungmu
South Korea
522
247
9
408
176
95
4,394 2,068
16
SLS Shipbuilding
Huludao
China P.R.
2
480
107
708
166
8
708
166
76
9,658 1,857
17
Bohai Shipbld.
Nanjing
China P.R.
2
1
500
60
371
201
10
235
126
102
5,527 1,771
18
Jinling Shipyard
Yangzhou
China P.R.
3
360
80
376
163
16
376
163
154
5,177 1,751
19
Dayang S.B.
Dalian
China P.R.
680
85
5,334 1,691
20
STX Dalian
Philippines
51
26
49
5,819 1,646
21
HHIC-Phil. Inc.
Subic Bay
Busan
South Korea
4
4
302
50 1,068
537
17 1,068
537
55
4,467 1,631
22
Hanjin H.I.
Nagasaki
Japan
2
2
990
100 1,671
688
7
811
419
39
1,996 1,625
23
Mitsubishi H.I.
Jingjiang
China P.R.
1
3
588
106
452
104
56
8,627 1,606
24
New Times S.B.
230
45
402
195
7
353
171
95
4,243 1,503
25
SPP Shipbuilding
Japan
1
1
420
89 2,347
387
12 2,347
387
44
9,218 1,476
26
Imabari S.B.
Saijo
China P.R.
2
4
500
80 1,300
226
5 1,300
194
43
6,497 1,463
27
Nantong Cosco KHI Nantong
South Korea
1
310
86
603
292
1
50
24
67
4,022 1,425
28
SPP Plant & Shipbldg Sacheon
1
200
36
556
271
13
542
254
67
3,008 1,404
29
Guangzhou S.Y. Int. Guangzhou China P.R.
Taiwan
2
950
92 1,145
324
10
806
285
40
2,678 1,332
30
CSBC
Kaohsiung
1
4
600
75 1,840
357
11 1,715
357
38
8,421 1,317
31
Universal S.B.
Tsu
Japan
Jingjiang
China P.R.
3
2
920
83 1,252
381
17 1,252
381
63
5,268 1,313
32
New Century S/Y
Ariake
Japan
2
3
620
160 2,091
316
8 1,730
281
31
9,176 1,306
33
Universal S.B.
Imari
Japan
1
450
70 1,622
323
13 1,582
323
38
8,175 1,301
34
Namura Zosensho
China P.R.
4
4 1,096
120
44
7,333 1,275
35
Zhoushan Jinhaiwan Zhoushan
Shanghai
China P.R.
2
3
860
44
405
198
5
219
111
58
3,687 1,259
36
Shanghai S.Y.
* Capacity output is defined as the maximum annual output for each yard in DWT and CGT since 2000. All DWT, GT and CGT figures in this table are
in ,000's. Ranking of shipyards in the table are based on the current orderbook measured in CGT
A y-o-y breakdown of deliveries from the yards is available on Shipping Intelligence Network (SIN)
Page 22
Dec-08
Orderbook
by Year of
Delivery:
N o.
1
10
23

Shipbuilder..
Docks/
Largest Dock
Berths Lgth Beam
Number
m.
m.
dwt
(,000)
cgt
(,000)
Output in
Orderbook for
2007
November
No.
dwt
cgt
No.
dwt
cgt
250
41
576
207
11
519
195
68 4,636 1,221
37
Tsuneishi Cebu
Cebu
Philippines
Daehan S.B.
Haenam
South Korea
341
60
39 6,735 1,174
38
Mihara
Japan
2
5
378
59 1,615
465
11 1,150
373
30 3,239 1,164
39
Koyo Dock K.K.
Meyer Werft
Papenburg
Germany
1
375
125
71
269
4
47
219
14
144 1,155
40
Kawasaki H.I.
Sakaide
Japan
2
430
75 1,410
454
5
503
219
23 2,740 1,143
41
Mangalia
Romania
2
620
60
255
128
3
190
91
30 2,899 1,025
42
Daewoo-Mangalia
3
6
384
69 1,886
437
9 1,257
229
36 5,457 1,017
43
Mitsui SB
Chiba
Japan
Marugame
Japan
2
370
57 1,602
482
18 1,129
420
50 3,078 1,017
44
Imabari S.B.
Gunsan
South Korea
29 6,246 1,014
45
Hyundai H.I.
Sanoyas
Mizushima
Japan
1
270
80
849
212
10
621
195
47 4,236 1,010
46
2
311
47
706
359
18
706
359
51 1,790
998
47
Shin Kurushima
Onishi
Japan
3
7
508
80 1,914
333
7 1,099
319
22 4,904
996
48
I.H.I.
Kure
Japan
1
1
400
70 1,192
244
10
898
215
34 4,801
942
49
Sasebo H.I.
Sasebo
Japan
Guangzhou Wenchong Huangpu
China P.R.
4
3
737
62
259
174
12
259
174
57 1,378
909
50
Mitsui SB
Tamano
Japan
2
5
276
78
944
279
14
812
228
57 3,169
905
51
COSCO Dalian
Dalian
China P.R.
3 10
350
87
0
2
1
0
2
48 3,151
894
52
Jingjiang
China P.R.
3
400
142
78
62
6
78
62
53 3,271
891
53
Jiangsu Eastern
Aker Yards S.A.
St. Nazaire
France
1
900
75
112
409
2
76
183
7
20
859
54
Surat
India
9
33
6
8
25
89 1,855
852
55
ABG Shipyard
South Korea
44 3,468
842
56
C & Heavy Industries Mokpo
- 10
200
30
116
108
15
116
108
64 1,342
813
57
Shandong Huanghai Rongcheng China P.R.
Qingshan Shipyard
Wuhan
China P.R.
780
45
243
188
18
243
188
53 2,278
807
58
Dae Sun S.B.
Pusan
South Korea
3
3
173
40
144
105
7
95
69
54 1,292
771
59
Zhoushan
China P.R.
3
5
550
108
42 2,213
745
60
COSCO Zhoushan
Nantong
China P.R.
1
330
110
171
49
42 2,352
720
61
Hantong Shipyard
Kouan S.B.
Taizhou
China P.R.
1
2
782
36
279
128
8
215
104
44 2,212
714
62
196
183
15
196
183
56 1,198
697
63
21c S.B. Co.
Nantong
China P.R.
1
220
54
27
31
44 1,158
653
64
Nantong Mingde
354
56
713
175
1
87
21
39 2,226
650
65
I.H.I.
Yokohama
Japan
4
4
490
106
18 4,156
647
66
Guangzhou Longxue Longxue Islan China P.R.
Taizhou Sanfu
Taizhou
China P.R.
1
578
60
59
48
4
51
38
48 1,531
646
67
Pusan
South Korea
93
85
52 1,570
644
68
Jinse Shipbldg. Co.
Zhoushan
China P.R.
4
4
750
42
188
144
14
188
144
33 1,675
635
69
Yangfan Group Co.
Qingdao
China P.R.
2
8
880
121
100
42
1
100
42
19 3,470
592
70
Beihai Shipyard
2
140
26
205
134
5
118
81
36
834
583
71
Kitanihon Zosen
Hachinohe
Japan
Jiangdu
China P.R.
3
550
116
64
28
1
9
9
35 1,949
582
72
CIC (Jiangsu)
Ningbo
China P.R.
2
680
72
364
196
7
110
90
36 1,558
579
73
Zhejiang S.B.
Saiki
Japan
2
176
30
272
123
7
272
123
45 1,558
572
74
Saiki Hvy. Ind.
Imabari
Japan
1
1
166
28
539
201
14
284
192
39 1,490
568
75
Imabari S.B.
Jiangsu
China P.R.
600
40
30
12
46 1,422
565
76
Tsuji H.I.
Toyohashi
Japan
380
66
544
362
11
192
362
18
312
558
77
Toyohashi S.B.
China P.R.
515
137
1
56
16
31 2,159
556
78
Tsuneishi Zhoushan Zhoushan
China P.R.
4
365
42
304
199
16
304
199
52
803
552
79
Jiangsu Yangzijiang Jiangyin
Marghera
Italy
1
2
334
54
18
219
2
18
219
5
42
548
80
Fincantieri
Japan
1
560
80
949
220
9
949
220
22 2,307
541
81
Sumitomo H.I.
Oppama
169
157
14
152
152
34
696
536
82
Samho Tongyoung
Vietnam
54
16
1
54
16
33 1,201
535
83
Nam Trieu S.B.
Haiphong
Onomichi
Japan
1
265
43
542
182
7
413
132
32 1,549
528
84
Onomichi Dockyd
Penglai
China P.R.
380
41
27 2,062
509
85
Jinglu Shipyard
Jiangyin
China P.R.
3
257
52
507
158
9
439
149
32 1,657
507
86
Chengxi Shipyd.
Odense Lindo
Lindo
Denmark
3
415
90
703
302
4
628
275
18 1,768
505
87
QinghuangdaoChina P.R.
3
9
870
80
91
36
3
91
36
29 1,837
498
88
Shanhaiguan S/Y
Xiamen S.B.
Xiamen
China P.R.
1
245
40
128
118
3
36
84
20
404
493
89
Monfalcone Italy
1
350
56
17
238
2
9
145
4
37
485
90
Fincantieri
1
560
33
6
10
36 1,509
481
91
Guangzhou Huangpu Guangzhou China P.R.
Szczecin. Nowa
Szczecin
Poland
338
191
6
197
135
24
726
473
92
Santierul Naval
Constantza Romania
1
360
48
162
90
4
162
90
20
926
468
93
Zhejiang
China P.R.
2
1
560
192
137
11
192
137
27
727
456
94
Zhejiang Ouhua
Ulsan
South Korea
176
165
10
117
115
41
423
447
95
Sekwang H.I.
Haiphong
Vietnam
138
55
2
62
23
23
785
436
96
Ha Long Shipyd.
Weihai
China P.R.
32 1,053
430
97
Weihai Samjin
Fuzhou
China P.R.
1
1
345
35
86
89
10
81
89
45
636
430
98
Fujian Mawei
Maizuru
Japan
1
1
258
36
384
95
5
384
93
22 1,752
425
99
Universal S.B.
Brazil
15 2,035
421 100
Atlantico Sul
Suape
Jiujiang
China P.R.
3
1
152
52
64
50
2
26
21
29 1,301
414 101
Jiujiang Yinxing
China P.R.
190
62
46
48
3
24
25
39
504
411 102
Sainty Marine Corp. Jiangdu
Page 23
Dec-08
...Shipyard
Capacity*

Shipbuilder..
Docks/
Largest Dock
Berths Lgth Beam
Number
m.
m.
dwt
(,000)
cgt
(,000)
Output in
Orderbook for
2007
November
No.
dwt
cgt
No.
dwt
cgt
2
5
450
52
24 1,460
410 103
COSCO Guangdong Guangzhou China P.R.
Pipavav Shipyd.
Pipavav
India
22 1,644
407 104
Busan
South Korea
28 1,282
406 105
Orient Shipyard
Aker Finnyards
Helsinki
Finland
1
281
34
18
198
3
17
111
3
54
402 106
Jiangzhou S/Y
Ruichang
China P.R.
1
300
37
29
26
35
490
386 107
Bandar Abbas Iran
51
22 1,170
383 108
ISOICO
Dung Quat Shipyard Quan Ngai
Vietnam
18 1,649
373 109
3
7
230
50
238
157
8
238
157
21
747
367 110
Naikai S.B.
Setoda
Japan
Hyundai Vinashin
Nha Trang
Vietnam
380
65
24 1,174
364 111
3
299
59
313
161
3
235
117
9
651
356 112
Mitsubishi H.I.
Kobe
Japan
Pula
Croatia
2
235
60
213
154
6
83
154
19
266
355 113
Brod. Uljanik
Kanda S.B. Co.
Kawajiri
Japan
3
2
181
31
292
110
9
292
110
29
904
352 114
Dalian
China P.R.
2
3
10 2,200
345 115
DACOS
Rio De JaneiroBrazil
3
2
280
46
7
14
1
4
6
19
900
332 116
EISA Shipyard
3
160
26
77
60
6
75
60
16 1,300
327 117
Sedef Gemi End.
Tuzla
Turkey
2
1
240
34
241
88
7
241
88
26
832
315 118
Hakodate Dock
Hakodate
Japan
Taiwan
1
1
275
45
177
88
6
138
88
21
458
309 119
CSBC
Keelung
Gwangyang South Korea
10 1,800
309 120
Orient Shipyard
Korea Shipyard
Mokpo
South Korea
10 1,800
309 121
Shimanami S.B.
Hakata
Japan
199
77
7
198
77
26
879
306 122
Iwagi
Japan
1
215
39
630
193
12
630
193
18
889
301 123
Iwagi Zosen
2
285
42
13
120
1
10
120
3
21
286 124
Sestri-Cantiere
Genoa
Italy
Mumbai
India
10
21
4
8
21
44
264
284 125
Bharati S.Y.
Flensburg
Germany
1
270
50
69
90
2
19
53
18
194
283 126
Flensburger S.B
72
73
7
72
73
27
433
281 127
Nokbong S.B.
China P.R.
215
39
55
40
3
38
29
24
575
279 128
Jiangdong Shipyard Wuhu
487
272
15
487
272
15
395
279 129
Wadan Yards MTW Wismar
Germany
Stralsund
Germany
2
300
108
235
134
4
204
117
17
399
276 130
Volkswerft
4
281
46
335
95
5
279
79
17
958
276 131
Kawasaki H.I.
Kobe
Japan
China P.R.
19
33
5
19
33
34
223
270 132
Chongqing Chuandong Chongqing
Ningbo
China P.R.
4
3
150
19
31
32
4
31
26
28
379
269 133
Xinle S.B.
Japan
2
168
197
101
10
197
101
25
607
267 134
Shin Kochi H.I.
Kochi City
Gdynia
Poland
2
389
70
457
285
7
127
171
10
320
262 135
Stocznia Gdynia
Tianjin
China P.R.
2
1
263
20
219
118
10
219
118
25
466
261 136
Xingang S.Y.
1
145
25
120
87
6
120
87
18
346
258 137
Fukuoka S.B.
Fukuoka
Japan
Baishi
China P.R.
1
1
245
60
52
40
3
36
29
20
443
255 138
Fujian Shenglong
Haiphong
Vietnam
33
28
1
13
9
20
525
252 139
Pha Rung S/yard
Nanjing
China P.R.
1
360
50
54
47
17
722
247 140
Nanjing Wujiazui
Pusan
South Korea
3
102
104
8
89
92
23
240
242 141
STX Shipbuild.
Zhoushan
China P.R.
12
170
237 142
Lujiashi Zhoushan
Ningbo
China P.R.
2
260
43
21
10
1
21
10
14
782
232 143
Ningbo Beilun
150
30
65
53
4
45
42
23
223
231 144
Celiktekne
Tuzla
Turkey
Germany
2
2
150
24
204
157
13
169
145
19
334
230 145
J. J. Sietas
Hamburg
2
190
51
99
114
4
42
84
12
119
229 146
Mitsubishi H.I.
Shimonoseki Japan
Unknown Yard
Unknown
Unknown
20
29
5
4
28
48
128
224 147
Rijeka
Croatia
2
260
50
228
109
4
210
99
9
388
224 148
Brod. 3 Maj
Jiangsu
China P.R.
14
744
222 149
Yangzhou Guoyu
Spain
6
180
30
25
69
2
20
35
13
56
220 150
Barreras S.A.
Vigo
Akitsu
Japan
2
165
28
105
77
4
91
64
13
310
216 151
Shin Kurushima
China P.R.
2
258
35
27
25
2
27
25
18
569
215 152
Taizhou Maple Leaf Taizhou
3
2
139
24
113
83
6
113
83
16
282
214 153
Usuki Zosensho
Usuki
Japan
Jiangmen
China P.R.
1
1
750
42
128
49
18
568
214 154
Jiangmen Nanyang
Weihai
China P.R.
4
560
80
41
30
4
35
30
16
655
212 155
Weihai S/yard
1
168
30
155
78
5
105
78
14
288
203 156
Shikoku Dock.
Takamatsu
Japan
Split
Croatia
4
269
520
149
6
520
132
9
572
196 157
Brodosplit
Jurong
Singapore
17
55
6
9
25
17
128
194 158
Keppel Singmarine
China P.R.
1
2
10
7
14
594
193 159
Zhejiang Zhenghe SB Zhejiang
China P.R.
1
218
40
22
17
15
173
190 160
Xinshun Shipbuilding Yueqing
Wenling
China P.R.
310
32
19
15
16
302
189 161
Zhejiang Jingang
Nanjing
China P.R.
108
24
34
34
5
34
34
10
542
187 162
Nanjing Shenghua
Wuhu
China P.R.
1
262
126
62
43
4
1
4
15
386
185 163
Wuhu Shipyard
Qingdao Jimo Mastek Qingdao
China P.R.
1
10
750
185 164
Nantong
China P.R.
550
139
15
508
184 165
Nantong Daoda
88
72
3
46
25
16
398
182 166
Kanasashi H.I.
Shikoku
Japan
932 5,763 5,842
2,827 30,106 23,692
Others (463 shipyards)
2,195 80,556 34,797
10,195 596,690 195,905
Total (629 shipyards)
Page 24
Dec-08
...Shipyard
Capacity*
Shipyard by Group
Shipyard Groups Share of Orderbook (CGT)
Bottom 390 groups
have just 10% share.
90%
80%
75% of Orderbook
at Top 56 Groups.
70%
60%
50%
50% of Orderbook
at Top 18 Groups.
40%
30%
25% of Orderbook
at Top 4 Groups.
20%
10%
0%
0
50
100
150
200
250
300 350
400
450
Shipbuilder
...Yards*
Hyundai H.I.
Daewoo SB
Samsung S.B.
STX Shipbuild.
Hyundai Mipo
Imabari S.B.
Tsuneishi Corp.
Dalian Shipbld. Ind.
Jiangnan S/yard
Sungdong S.B.
Hanjin H.I.
Universal S.B.
Changjiang Nat. Shpg
SPP Shipbuilding.
New Century S/Y
Jiangsu Rongsheng
Jiangsu S.B. Group
Waigaoqiao S/Y
Sino-Pacific Group
Oshima S.B. Co.
Hudong S/Yard
STX Europe ASA
Mitsubishi H.I.
COSCO Shipyd. Group
SLS Shipbuilding
Mitsui S.B.
Bohai Shipbld.
Shin Kurushima
COSCO Shipbuilding
I.H.I.
Other (512 groups)
TOTAL (542 groups)
11
2
5
4
2
13
7
1
2
1
3
10
5
2
2
1
3
1
2
1
1
18
15
5
1
12
1
8
2
19
New Orders 2007
500
The Community of EU Shipbuilders Associations
(CESA) claimed European shipyards would not be as

affected as their Asian rivals by the fall in newbuilding
orders. The low proportion of bulkers and containerships
on order in Europe would help protect yards from the
worst effects of the crisis, whilst their expertise in niche
markets, such as cruise vessels, would be invaluable.
The Korean Shipbuilders Association (KSA) recently
released figures predicting South Koreas shipbuilders
will be the countrys leading exporting industry by 2009,
overtaking the electronics industry. The KSA estimated
newbuilding exports would be worth around $53bn in
2009, which would mark a 23% increase from the $43bn
in 2008. The KSA also estimated ship exports would
amount to 11% of Korean exports and would have the
prestigious title of being the most valuable export sector.
Chinas biggest steelmaker, Baoshan Iron and Steel,
announced it would boost ship plate production to cope
with a surge of demand from Asian shipbuilders. Capacity
is to be increased from 1.4m tonnes to 1.8m tonnes by the
end of the year.
Orderbook Nov, 2008
No.
dwt
cgt
No.
dwt
cgt
199
119
105
167
118
89
86
69
69
54
42
35
120
99
54
31
81
29
104
40
42
37
30
79
46
39
31
21
13
22
2,678
4,748
24,474
16,347
12,112
12,881
4,223
5,146
7,194
11,977
7,210
8,059
3,417
4,707
5,904
5,140
6,925
5,063
4,031
5,544
3,751
2,836
3,222
218
927
4,491
2,106
2,820
4,690
525
1,838
1,849
83,818
263,443
7,561
5,365
4,913
3,849
2,617
1,480
1,726
2,196
1,783
1,502
1,387
842
1,912
1,663
1,355
922
1,598
931
1,254
751
964
624
946
1,389
1,020
690
823
350
372
570
34,436
87,791
518
242
231
312
294
218
210
122
136
114
104
103
191
162
119
88
139
81
190
128
96
92
60
118
95
101
76
89
53
61
5,652
10,195
68,350
34,827
27,557
26,949
11,627
19,346
16,153
20,498
15,423
17,180
10,286
19,379
8,544
8,265
13,895
16,013
6,677
15,221
6,735
8,575
6,803
701
2,766
7,182
4,394
8,666
9,658
2,477
8,697
7,130
166,716
596,690
19,530
11,350
10,832
7,247
6,136
4,992
4,088
3,780
3,653
3,297
3,277
3,117
2,958
2,928
2,919
2,821
2,654
2,589
2,329
2,313
2,273
2,266
2,210
2,139
2,068
1,978
1,857
1,837
1,808
1,646
73,011
195,905
Delivery ('000 CGT):
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
2008+
2009
2010
2011
637 6,258 5,674 5,946

715 3,423 3,613 3,023
546 3,055 2,872 3,160
129 1,860 2,464 2,344
109 1,678 2,278 1,681
575 1,844 1,122
707
276
819 1,118 1,018
68 1,072 1,256 1,139
105
731 1,430 1,072
253
950 1,297
797
259
871 1,278
869
182
820
681
779
202
981 1,160
604
122
791
769 1,042
260
795
795 1,021
191
903
782
558
46
864
808
505
137
612 1,086
514
311
499
634
653
149
508
663
491
249
672
657
575
350
764
607
435
428
747
677
252
76
915
830
319
363
689
488
436
122
627
585
509
143
392
616
706
199
926
617
54
41
310
338
587
16
704
475
404
9,594 24,052 23,143 11,770
16,853 60,131 60,813 43,967
* No. of yards within group that currently have orders. + Deliveries in the remainder of year.
All DWT, GT and CGT figures in this table are in ,000's. Ranking of shipyards in the table are based on the current orderbook measured in CGT
Page 25
Dec-08
100%
Shipyard News November 2008
Fleet Forecasts
Numbers, end
2004
Orderbook (end period)

New Orders
Newbuildings Delivered
Sold for Scrap
Losses
Miscellaneous Additions
Miscellaneous Removals
Total Tanker Fleet > 10,000
% change
of which:
VLCC
>200,000
% change
Suezmax
120-200,000
% change
Aframax
80-120,000
% change
Panamax
60-80,000
% change
10-60,000
Handy
% change
Small Tankers
% change
<10,000
Bulk Carrier
Fleet
New Orders
Sold for Scrap
Losses
Total Bulk Carrier Fleet
% change
of which:
>100,000
Capesize
% change
Panamax
60-100,000
% change
40-60,000
Handy
% change
10-40,000
Handysize
% change
Combined
Carrier Fleet
Combos
% change
Containership
Fleet
New Orders
Sold for Scrap
Losses
Total Containership Fleet
% change
of which:
Post-P' max
3,000 &+ teu
% change
Panamax
3,000 &+ teu
% change
Sub-P'max
2-2,999 teu
% change
1-1,999 teu
Handy
% change
Feeders
< 1,000 teu
% change
1,027
486
330
118
3
2005
2006
Nov*
2004
1,950
327
425
69
85.3
37.5
28.0
8.0
0.1
27
4,261
6.8%
2,048
762
424
78
1
9
39
4,576
7.4%
76
4,856
6.1%
471
5.1%
325
7.3%
669
7.4%
272
14.3%
2,254
6.1%
486
3.2%
347
6.8%
700
4.6%
307
12.9%
2,421
7.4%
503
3.5%
361
4.0%
745
6.4%
342
11.4%
2,625
8.4%
7,312
1.4%
7,432
1.6%
7,551
1.6%
1,710
940
372
73
2
23
3,736
5.2%
1,142
459
344
71
1
2
19
3,991
6.8%
448
4.4%
303
3.4%
623
3.8%
238
8.2%
2,124
5.8%
7,212
0.6%
2007
m. DWT, end
2005
2006
2007
2006
Nov*
2008
2009
180.1
48.4
30.8
4.1
42.1
5.1
56.2
10.0
3.1
363.2
5.8%
162.5
47.9
30.7
3.1
0.0
0.9
6.1
385.5
6.2%
9.8
402.4
4.4%
10.5
412.0
6.9%
2.9
455.2
10.5%
137.7
5.5%
48.9
7.9%
67.7
8.5%
18.7
15.4%
70.2
6.9%
142.4
3.4%
52.3
7.0%
71.4
5.5%
21.3
13.8%
75.8
7.9%
148.1
4.0%
54.7
4.6%
76.6
7.3%
24.0
12.4%
82.1
8.4%
152.3
2.9%
55.2
0.9%
80.1
4.6%
25.6
6.8%
89.1
8.5%
153.6
3.7%
56.5
3.2%
82.5
7.7%
26.6
10.8%
92.8
13.0%
170.8
11.2%
64.4
14.0%
91.0
10.2%
29.4
10.6%
102.0
9.9%
18.2
2.3%
18.7
2.4%
19.3
3.5%
19.9
2.9%
21.1
9.1%
22.1
4.6%
145.3
86.3
26.0
2.9
0.0
3.6
320.2
5.4%
85.0
29.4
29.8
4.0
0.0
0.2
2.8
343.3
7.2%
513
2.0%
363
0.6%
773
3.8%
363
6.1%
2,844
8.3%
130.6
4.4%
45.3
4.4%
62.3
4.9%
16.2
9.7%
65.7
7.5%
7,635
1.1%
17.8
1.0%
Numbers, end
2004
2005
Forecast
2007
m. DWT, end
Nov*
2004
2005
2006
Forecast
2007
Nov*
2008
2009
850
389
265
13
7
7
4
5,848
4.4%
938
399
311
22
5
12
18
6,126
4.8%
1,300
678
316
48
7
5
8
6,384
4.2%
2,824
1,853
329
11
6
1
2
6,695
4.9%
3,466
918
276
35
3
48
2
6,979
4.2%
68.4
32.5
19.7
0.3
0.2
1.4
0.1
322.6
6.8%
75.5
30.5
23.4
0.9
0.1
0.8
0.5
345.2
7.0%
102.8
53.3
26.0
1.8
0.7
0.3
0.3
368.5
6.8%
239.2
161.0
24.7
0.4
0.2
0.1
0.0
392.6
6.5%
298.6
78.6
19.2
2.6
0.1
6.5
0.1
415.6
5.8%
27.0
4.0
0.1
7.4
0.1
422.9
7.7%
474.0
12.1%
610
8.2%
1,205
7.3%
1,309
6.3%
2,724
1.6%
657
7.7%
1,299
7.8%
1,411
7.8%
2,759
1.3%
713
8.5%
1,398
7.6%
1,501
6.4%
2,772
0.5%
768
7.7%
1,478
5.7%
1,599
6.5%
2,850
2.8%
812
5.7%
1,548
4.7%
1,692
5.8%
2,927
2.7%
102.3
9.3%
86.4
7.9%
61.3
7.0%
72.5
2.0%
111.0
8.5%
93.7
8.5%
66.9
9.0%
73.6
1.5%
121.1
9.1%
101.7
8.5%
71.7
7.2%
74.0
0.6%
131.5
8.5%
108.2
6.4%
77.0
7.4%
76.0
2.7%
141.5
7.6%
113.9
5.3%
82.1
6.6%
78.2
2.8%
143.4
9.1%
115.3
6.6%
85.3
10.8%
78.9
3.8%
169.9
18.5%
122.7
6.4%
100.6
17.9%
80.8
2.4%
Numbers, end
2004
109
-5.2%
2005
100
-8.3%
2006
93
-7.0%
2007
85
-8.6%
m. DWT, end
Nov*
83
-2.4%
2004
10.2
-10.7%
Numbers, end
2005
9.4
-7.7%
2006
8.9
-6.1%
66.4
20.1
4.9
Forecast
2007
8.2
-8.0%
Nov*
8.0
-1.9%
m. TEU, end
2008
8.0
-2.0%
2009
7.8
-2.7%
Forecast
2004
2005
2006
2007
Nov*
2004
2005
2006
2007
Nov*
2008
2009
874
447
177
6
1,177
566
263
1
2
1,293
483
367
14
2
1,445
547
395
21
1
1,246
184
383
38
3.6
1.6
0.6
0.0
4.3
1.6
0.9
0.0
1.2
4.8
1.8
1.4
0.0
2.1
6.6
3.2
1.3
0.0
5.0
6.3
1.0
1.3
0.1
1.6
0.1
1.8
0.1
1.3
1
3,377
5.4%
1
3,636
7.7%
3,987
9.7%
4,360
9.4%
1
6
4,700
7.8%
331
17.4%
515
8.4%
530
6.2%
933
2.2%
1,068
3.1%
390
17.8%
580
12.6%
575
8.5%
977
4.7%
1,114
4.3%
489
25.4%
643
10.9%
631
9.7%
1,051
7.6%
1,173
5.3%
561
14.7%
734
14.2%
672
6.5%
1,163
10.7%
1,230
4.9%
639
13.9%
820
11.7%
719
7.0%
1,254
7.8%
1,268
3.1%
Page 26
7.2
9.8%
0.2
8.1
13.1%
9.5
16.5%
2.0
19.9%
2.0
10.0%
1.3
6.3%
1.3
2.3%
0.6
4.5%
2.4
22.1%
2.3
14.4%
1.4
9.0%
1.4
4.5%
0.6
6.6%
3.2
32.4%
2.5
11.5%
1.6
10.6%
1.5
7.3%
0.7
7.6%
10.8
13.7%
0.0
0.0
12.0
11.7%
0.0
0.0
12.3
14.4%
14.1
14.2%
3.8
18.4%
2.9
15.3%
1.7
6.9%
1.6
10.8%
0.7
7.3%
4.4
16.1%
3.3
12.5%
1.8
7.3%
1.8
7.8%
0.8
4.6%
4.5
19.4%
3.4
14.4%
1.9
9.6%
1.8
9.5%
0.8
10.0%
5.5
21.7%
3.9
15.8%
1.9
4.2%
1.9
7.2%
0.8
3.9%
Dec-08
Tanker
Fleet
Fleet Forecasts

New Orders
Sold for Scrap
Losses
Total LNG Fleet
% change
LPG Carrier
Fleet
New Orders
Sold for Scrap
Losses
Total LPG Fleet
% change
of which:
>60,000 cbm
% change
20-60,000 cbm
% change
5-20,000 cbm
% change
<5,000 cbm
% change
m. CBM, end
2005
2006
2007
Nov*
2004
2005
2006
2007
Nov*
2008
2009
104
70
22
132
47
19
139
35
28
132
25
32
1
99
5
38
4
15.6
10.8
2.9
20.1
7.1
2.6
22.9
6.8
4.0
22.1
3.9
4.8
0.0
16.1
0.8
6.8
0.1
10.3
0.1
7.9
0.0
175
14.4%
194
10.9%
222
14.4%
253
14.0%
287
13.4%
20.5
16.7%
23.0
12.6%
27.0
17.3%
31.8
17.6%
38.5
20.9%
42.0
32.1%
Numbers, end
m. CBM., end
2004
2005
2006
2007
Nov*
70
54
20
19
1
2
2
996
164
105
11
9
1
201
83
46
4
213
69
57
17
202
53
64
17
2
995
-0.1%
1,037
4.2%
1,077
3.9%
104
1.0%
89
3.5%
207
-1.0%
595
-0.5%
110
5.8%
95
6.7%
222
7.2%
610
2.5%
114
3.6%
101
6.3%
238
7.2%
624
2.3%
2004
2
1,122
4.2%
2.5
1.7
0.5
0.5
0.0
0.0
0.0
14.3
0.4%
128
12.3%
107
5.9%
260
9.2%
627
0.5%
8.1
-1.0%
3.1
5.1%
1.8
-1.0%
1.3
0.2%
Numbers, end
2004
>2,500
<2,500
>2,500
<2,500
Other Vessel
Types
General Cargo (m. DWT)
% change
MPP (,000 Teu)
% change
Ro-Ro (m. dwt)
% change
PCC (m. dwt)
% change
Reefer (m. ft3)
% change
Cruise (,000 Berths)
% change
Other (,000 GT)
% change
Total
Forecast
2004
103
-1.0%
86
4.9%
209
-0.9%
598
-0.2%
Offshore
Fleet
AHTS
AHTS
% change
PSV
PSV
% change
Other
Total Offshore Fleet
% change
Numbers, end
172
1,673
2.5%
119
1,390
4.4%
1,958
5,312
2.5%
2005
187
1,734
4.1%
145
1,438
4.9%
1,970
5,474
3.0%
2006
206
1,809
4.9%
167
1,483
4.2%
1,997
5,662
3.4%
2007
231
1,894
5.5%
192
1,535
4.7%
2,046
5,898
4.2%
250
1,942
3.2%
209
1,592
4.3%
2,101
6,094
3.3%
2004
2004
2005
2006
2007
Nov*
13,503
0.6%
2,439
2.3%
3,413
0.8%
514
4.5%
2,050
-1.1%
313
3.6%
18,118
2.4%
13,675
1.3%
2,509
2.9%
3,444
0.9%
548
6.6%
2,041
-0.4%
318
1.6%
18,573
2.5%
13,766
0.7%
2,609
4.0%
3,499
1.6%
587
7.1%
2,030
-0.5%
320
0.6%
19,062
2.6%
13,828
0.5%
2,743
5.1%
3,543
1.3%
634
8.0%
2,023
-0.3%
328
2.5%
19,518
2.4%
15,083
9.1%
2,842
3.6%
3,547
0.1%
682
7.6%
1,992
-1.5%
333
1.5%
21,236
8.8%
2006
2007
2006
2007
Nov*
2008
2009
5.0
2.9
0.4
0.1
0.0
6.6
2.6
1.1
0.2
6.0
0.8
1.4
0.7
4.5
0.8
2.3
0.6
2.8
0.4
2.3
0.3
0.1
14.5
1.1%
15.3
6.0%
16.0
4.5%
0.1
17.6
9.6%
0.1
18.3
14.1%
20.3
10.9%
8.1
0.8%
3.3
4.2%
1.8
-1.4%
1.3
-0.8%
8.6
6.1%
3.5
6.9%
1.9
6.2%
1.3
2.9%
9.0
4.1%
3.7
4.8%
2.0
6.6%
1.4
3.6%
10.2
13.4%
3.8
4.5%
2.2
8.6%
1.4
0.7%
10.6
18.4%
4.0
8.0%
2.3
11.6%
1.5
6.7%
11.8
11.2%
4.5
14.7%
2.4
7.1%
1.5
4.2%
Nov*
2005
2006
2007
Forecast
Nov*
2008
2009
914.4 1086.1
2,118.5 2,414.6
17.4%
15.4%
799.8
922.8
1,441.7 1,529.1
16.7%
9.4%
5,234.5 5,234.4
Units, end**
Forecast
2004
2005
2006
2007
Nov*
10,508.8
11,187.0
12.3%
6.5%
2008
2009
37.5
37.4
37.4
37.6
38.3
-1.5%
-0.2%
0.0%
0.5%
1.8%
1,009.8 1,041.7 1,085.5 1,146.5 1,191.1
3.3%
3.2%
4.2%
5.6%
3.9%
10.2
10.2
10.4
10.5
10.5
0.4%
0.6%
1.5%
1.1%
0.4%
7.0
7.6
8.2
9.0
9.9
6.4%
8.2%
8.3%
9.8%
9.5%
336.4
334.1
331.2
331.5
320.9
-2.3%
-0.7%
-0.9%
0.1%
-3.2%
304.1
312.7
328.9
349.3
368.7
8.4%
2.8%
5.2%
6.2%
5.5%
44.0
44.8
45.7
46.3
46.9
0.5%
1.9%
2.0%
1.4%
1.2%
38.7
39.0
2.8%
0.9%
1,438.1 1,577.8
25.4%
9.7%
10.6
10.9
1.4%
2.1%
10.2
11.4
13.2%
11.7%
325.7
326.8
-1.8%
0.3%
372.6
398.7
6.7%
7.0%
m. GT, end
Forecast
Numbers, end
2005
2005
555.0
606.8
672.4
763.0
828.2
1,476.2 1,567.7 1,694.1 1,821.5 1,925.5
4.7%
7.1%
8.8%
9.2%
6.6%
393.4
484.2
561.0
648.2
706.6
1,059.3 1,118.3 1,197.8 1,272.0 1,353.3
7.8% 10.3%
9.8%
9.2%
7.3%
4300.2 4378.0 4440.2 4857.3 5364.2
7,784.1 8,155.1 8,565.6 9,362.0 10,178
2.9%
4.8%
5.0%
9.3%
8.7%
Numbers, end
2004
Forecast
,000 GT, end

Nov*
49.9
18.8%
2004
2005
2006
2007
Nov*
2008
2009
Total Cargo Fleet
49,223 50,613 52,121 53,838 55,253

578.5
619.6
666.2
717.1
762.4
781.1
877.6
1.9%
2.8%
3.0%
3.3%
2.6%
5.8%
7.1%
7.5%
7.6%
6.3%
8.9%
12.4%
% change
69,890 71,785 73,793 76,014 77,710
635.0
677.5
725.4
777.9
824.5
844.3
943.0
Global Total Fleet
2.1%
2.7%
2.8%
3.0%
2.2%
5.7%
6.7%
7.1%
7.2%
6.0%
8.5%
11.7%
% change
* ** Units are dwt for Combos, PCC, Ro-Ros and General Cargo, TEU for MPP, cubic feet for Reefer, no. of berths for Cruise, and GT for others.
Page 27
Dec-08
LNG Carrier
Fleet
Shipbuilding Focus
of contracts placed in January alone.
The orderbook was also larger than it
had ever previously been, standing at
an enormous 10,027 vessels of
188.9m CGT and 526.3m dwt. In addition, the Newbuilding price index
was stationed at a record level of 184
points. Even better, things looked set
to improve and, for a while, they did.
The year of 2008 has been witness to

some magnificent feats such as the
Beijing Olympics, momentous occasions such as the election of Barack
Obama to the White House and tragic
incidents such as the attacks in Mumbai. However, one issue has loomed
large in 2008: the credit crunch.
Much has been made its impact on
the downturn in various global industries and shipbuilding is no exception.
Peaky
2008s shipbuilding peak came in

September, just as the credit crunch
At the start of 2008, as the Graph of was about to bite. The orderbook had
the Month shows, everything was surpassed both the 200m CGT and
looking peachy. Contracting was his- 600m dwt mark for the first time,
torically high with 4.9m CGT worth whilst the Newbuilding Price Index
stood at 190 points.
Maintaining these levels was unsustainable
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and, ultimately, short

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became unprecedented
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lows.

Consequently, as the Graph of the

Month
highlights,
contracting
crashed. In November, for the first
time in over twelve years, since January 1996, no new contracts were reported at any Japanese shipyards.
This is astonishing as Japan is considered to be the worlds third largest
shipbuilder and, whilst the possibility
of late reporting may temper this
shocking statistic, the outlook is
likely to remain unpleasant.
Feeling Great...
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As the credit crunch

began to take its toll,
contracting
figures
were first to be affected
and the once mighty
orderbook began to
shrink (in CGT terms)
for the first time in just
under 3 years. As credit
became less accessible,
owners struggled to
obtain the funds needed
to finance new orders.
Get Well Soon!

Whilst shipyards highlight their full
orderbooks, it is unclear how long
they can maintain operations without
attracting new business. An obvious
solution to this would be to slash
prices in an attempt to attract buyers
back to the market. In the current climate, a more radical approach may be
required. Even if, as some analysts
have suggested, newbuilding prices
were cut by 25%, they would still be
historically high. At its peak, the
benchmark price for a 176-180K dwt
Capesize was $97m. Now the price
stands at around $89m. A 25% reduction would still leave prices higher
than they were in mid-2006. Such
measured action could attract buyers
back to the shipbuilding market place
and encourage them to start placing
orders once again. The topsy-turvy
nature of 2008 makes predicting future events almost impossible. One
thing, however, is certain: like its
predecessor, 2009 is bound to be full
of surprises.
Graph of the Month

World Shipyard Monitor, 18 December, 2008
Published by:
Clarkson Research Services Ltd.
St. Magnus House,
3, Lower Thames Street,
LONDON EC3R 6HE,
England.
Telephone: (44) (020) 7334 3134
Fax: (44) (020) 7522 0330
Telex: 8812927 CLTNKA G
E-mail: sales.crs@clarksons.co.uk
Web site: http://www.crsl.com
Editorial Board:
Managing Director
Publisher
Research Services
Analyst
Technician
Production
Newbuilding Data
Newbuilding
Demolition
Martin Stopford
Cliff Tyler
Steve Gordon
Philip Ford
Will Lowes
D. Poynter
P. English
N. Wood
A. Hoole
World Shipyard Monitor is published 12 times a year. It monitors changes in the

supply of 37 different ship types. The centre sections contain listings of the
orderbook by ship type and shipyard; the main pages contain at a glance tables,
graphs and text analysing trends in the orderbook, ordering, deliveries, scrapping
& losses, prices, shipbuilding market shares and capacity and fleet forecasts. It is
available on subscription at a price of 560/585 (within Europe/outside Europe)
including postage.
Whilst care has been taken in the production of this review, no liability can be
accepted for any loss incurred in any way whatsoever by any person who may
seek to rely on the information contained herein. The information in this report
may not be reproduced without the written permission of Clarkson Research
Services.
2008 A Jekyll and Hyde Year?

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December-2008

Volume 15, No.12

Major European Shipyards

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Orderbook by Vessel Type

Chem & Spec.

In November the total size of the orderbook fell

Orderbook, Delivery in:

Orderbook, Delivery in:

241.0 343.4 526.3

Orderbook, Delivery in:

Clarkson Research Services

Summary November 2008

Orderbook by Vessel Type

Million GT, end:

Orderbook, Delivery in:

Million GT, end:

Orderbook, Delivery in:

Million GT, end:

Orderbook, Delivery in:

Clarkson Research Services

Monthly Forward Orderbook by Shiptype (m. cgt)

Contracting by Vessel Type

Source: Clarkson Research Services

In November, 19 contracts of 0.3m CGT and 0.8m

This Year v. Last

This Year v. Last

This Year v. Last

93.7 178.2 263.4

DOWN BY.. -39%

Clarkson Research Services

Contracting by Vessel Type

Million GT, end:

This Year v. Last

This Year v. Last

Million GT, end:

Million GT, end:

This Year v. Last

Clarkson Research Services

Recently Confirmed Shipbuilding Contracts

Deliveries by Vessel Type

Source: Clarkson Research Services

November witnessed the delivery of just 45 vessels

Clarkson Research Services

Deliveries by Vessel Type

Million GT, end:

Million GT, end:

Million GT, end:

Clarkson Research Services

Recent Shipbuilding Deliveries

Demolition Sales by Vessel Type

Demolition has surged in recent weeks as the

Clarkson Research Services

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