Shipbuilders have enjoyed two good years due to a rush of orders for new container ships, car carriers and gas tankers driven by fleet renewal for dual-fuel vessels that can sail on alternative fuels.

Consultancy and research company Maritime Strategies International concluded that in 2022 and 2023, newbuilding contracting massively exceeded underlying replacement and incremental demand growth requirements.

“After the container-boosted wonder year of 2021, we anticipated contracting would ease back in 2022 and 2023.