According to Clarksons, global newbuilding contracts so far in 2020 are 21.8m gt, a 47% year-on-year decline. The biggest reason for limited new orders is prolonged global economic recession, with rapidly shrinking economic activities in most areas such as private consumption, employment and investment, arisen from the shock including lockdown due to the Covid-19 pandemic.
About the New Normal series
After a year like no other, TradeWinds asked 40 shipping industry stakeholders what they see for 2021 after a year beset by the coronavirus, and how the pandemic will shape shipping's future.
