Clarksons’ latest data shows that after three years of order boom in the shipbuilding industry, shipowners’ demand for new ships has weakened, down 57% year-on-year, which has led to a decline in the cost of new ships. Clarksons’ report shows that compared with the beginning of 2025, the price of new ships has fallen by 1.2%, but remain strong overall.
Specifically, the tanker sector has seen the most pronounced decline in newbuilding prices, down 5% from the beginning of 2025; all other ship types in the market have also retreated, with prices for bulk carriers and containerships falling by 2.2% and 1.4%, respectively.
According to Danish Ship Finance, newbuilding prices are expected to decline in the near term, and the number of new orders from shipyards may decrease as a result of weakening demand for new vessels from shipowners and weak freight rates expected.
In terms of shipyard orders, Clarksons’ May data has confirmed the downward trend in new ship orders. From January to April this year, the total global new ship orders were 12.59 million gcompensated gross tonnages (CGT, 372 ships), a decrease of 50% from the same period last year (1,056 ships, 25.04 million CGTs).
“We expect that current worldwide uncertainties will prevail, with a renewed pressure on freight markets delaying investment decisions. The new wave of shipbuilding expansion will have a downward impact on newbuilding prices, which should weaken during 2025 by more than 10% depending on type and size of ships, despite the resistance that will remain given the considerable orderbooks,” broker BRS predicted in its annual review published towards the end of March.