The shipbuilding market has slowed down substantially in the last seven months but newbuilding prices have remained strong, according to Clarksons Research.

This year saw 733 newbuildings totalling 45.5m-dwt and 23.9m-cgt ordered up until the end of July, which the shipbroker said represents an annualised drop of 41% in dwt and 20% in dwt cgt year-on-year.

Firm order volumes in 2021 saw 2,012 vessels of 133.1m