In its 2018 edition of Maritime Transport Review, UNCTAD informed that in 2017, total newbuilding delivery amounted to 65 million gross tons, equivalent to 5.2% of the start-of-year fleet in 2017. Meanwhile in 2017, 23 milion gross tons were scrapped leading to a net growth in world fleet of 42 million gross tons, equivalent to a growth rate of 3.3%.
The dry bulk sector saw the largest tonnage of newbuilding entering the fleet with more than 20 million gross tons reported delivered. This sector also saw the highest level of scrapping activity at more than 8 million gross tons leading to a net growth in dry bulk fleet of 2,9%.
Oil tankers saw less newbuilding activity but also less scrapping, resulting in greater net growth in the fleet, at almost 5%. General cargo ships recorded more scrapping than newbuildings, leading to a negative growth rate in this sector.
The largest shipbuilding countries continued to be China, Republic of Korea and Japan, which togethet accounted for 90.5% of gross tons delivered in 2017. China has the largest market shares in dry bulk carriers and general cargo ships. The Republic of Korea is strongest in oil tankers, container ships and gas carriers. Japan has its largest market share in chemical tankers and bulk carriers. The rest of the world, comprising mostly countries in Europe, is strongest in offshore vessels and passenger ships, including cruise ships.
Ship demolitions in 2017 were almost one quarter less in gross tons than in 2016, an indicator of improved market optimism. Bulk carrier and container ship scrapping slowed in line with improved market conditions but tanker recycling increased. The most ship scrapping continued to take place in India, followed by Bangladesh and Pakistan.
The tonnage on order for all main vessel types further decreased in 2017-2018. Compared with the peaks in 2008 and 2009, the current tonnage on order has decreased by 62% for container ships, 66% for oil tankers, 76% for bulk carriers and 85% for general cargo vessels.
