Newbuilding ordering has slipped back in 2022 from the heady heights of the previous year but the value of contracts is up.

Clarksons Research managing director Stephen Gordon said that at the start of November, year-on-year orders in 2022 are down 21% in cgt terms.

But they are up 4% on the US dollar value of contracts placed, passing the $100bn mark for total orders at the start of this month.