In the depths of the northern hemisphere winter, the global newbuilding market is frozen solid. Of the total of only 16 firm orders reported placed during January, there were few significant vessels, just a few midsize boxships, a handful of dredgers, a couple of specialist cruiseships and a pair of asphalt carriers.
Such is the market lockdown that South Korea’s major yards received no orders in January — an unprecedented situation, at least in recent years.
