Record shipyard output in 2002 - Clarkson Shipyard Monitor

Clarkson Shipyard Monitor reports that while total bulk investment has fluctuated, yard output (for all cargo vessels) in compensated gross tonnes (cgt) has climbed strongly since 1993. Peak output to date was in 2000, when yards delivered 16.4m cgt. In 2001, output fell slightly to 15.7m cgt, but Clarkson expect 2002 and 2003 to be bumper years as a result of the record 26m cgt of orders placed in 2000. As the orderbook stands, Clarkson estimate a possible output total of 20m cgt in 2002 (up 27.5% on 2001) and 18.4m cgt in 2003 (these figures include no slippage factor on deliveries). Asia’s share increased from 71% in 1992 to 83% in 2001, while the EU’s share dropped from 19% to 8.3% over the same period. Interestingly though, the East European share of output looks set to rise dramatically next year (5.7% in 2001 to 10.3% in 2002). These figures reflect the success of East European yards in winning Product tanker and MPP business, especially. The EU share seems also likely to rise modestly next year.