Global shipbuilding slows, but no worry for local players

Looking at the record levels at which new ships were ordered globally in past two years, there would be a slowdown in fresh contracts in 2008, according to the Llyods Register Group.

The last two years have seen unprecedented levels of ship contracts, where calendar year 2007 saw 164.8 million gross registered tonnes (GRT) being ordered for bulk carriers, tankers and container ships, compared with 93.8 million GRT in 2006. This was a 72% rise year on year.