12 days ago • Posted by William Ramstein

Global shipyards are now flush with new orders

According to maritime data provider VesselsValue Ltd., orders for new container ships in the first five months of this year nearly doubled. The resurgence comes as Western retailers such as Walmart and Amazon seek to restock after a year of supply-chain disruptions form the virus. The congestions at ports and the rush to restore inventories has generated profits for Maersk and Hapag Lloyd--players who now seek to replenish their fleets. In the first five months of this year, 208 container ships worth $16.3 billion were added to the global order book, compared with 120 ships valued at $8.8 billion for all of last year and 114 vessels worth $6.9 billion in 2019.

Source: WSJ