Investment in newbuildings in the first three months of this year was at the lowest quarterly figure for 11 years, according to Clarksons Research.

In its latest issue of “World Shipyard Monitor”, the shipbroker’s research arm estimated newbuilding investment in the first quarter of 2020 to be at $5.5bn, down 71% year-on-year on an annualised basis and the lowest total since the second quarter of 2009.