SIMIC

LNG carrier and containership ordering continue to break records, sending prices to all-time highs and promising to overhaul fleets in the coming years, reports Singapore's Splash 247.
More than 8.61 million TEU worth of containerships have been contracted, matching the level contracted during the preceding 30 quarters, according to BIMCO.
The orderbook has now increased for 10 straight quarters, reaching a new record high in each of the last four quarters.
At 7.54 million TEU it now equals 28.9 per cent of the existing fleet, with BIMCO, having taken scrapping into account, predicting the global box fleet will shortly exceed 30 million TEU for the first time, up 16 per cent.
The extreme ordering by containership and gas carrier owners has elbowed out tanker and dry bulk firms from renewing their fleets, but this may be about to change.
Brokers Braemar have noted how LNG newbuild prices have hit record highs at US$259.5 million for a standard ship, a figure that is now turning some owners away from ordering more.
Braemar is forecasting the global LNG fleet will expand by a massive 36 per cent between now and 2027.