The global newbuilding orderbook had sunk to a 14-year low at the start of August, the latest analysis by Clarksons shows.
“As of the start of August 2018, the orderbook stood at 3,000 vessels of 76m compensated gross tonnage (CGT), its lowest level in CGT terms since April 2004,” the shipbroker said.
“This represented a 38% decline in the size of the global orderbook in CGT terms since March 2014, which marked the end of a year-long expansion.
