Recent shipbuilding decisions review


Tom Kelly, of Clyde & Co LLP, reports on some recent shipbuilding decisions in the context of a tough market


The shipbuilding industry continues to face a difficult market, with few encouraging signs of improvement. Predictions for newbuild orders in 2017 are some 1,000 vessels below 2009 levels and fleet-to-orderbook ratios are predicted to fall to around 10 per cent. While some sectors, such as the passenger/cruise ship market and superyachts are seeing stronger order numbers, the commercial shipbuilding market remains weak.