A firm interest in cruiseships and a revival in tanker contracting has helped push up global newbuilding investment by 58% on an annualised basis, according to Clarksons.

The world’s largest shipbroker says $33.8bn has been spent on ordering new vessels in 2017, of which $12.6bn has gone on cruiseships.

It follows a record year for cruise shipbuilding in 2016 when the ships accounted for 43% of the total spent at shipyards, Clarksons Ivan Rumynin says.