New ship orders as a percentage of the global fleet fell to 7.1 per cent in October. Photo: Shutterstock New ship orders as a percentage of the global fleet fell to 7.1 per cent in October. Photo: Shutterstock
New ship orders as a percentage of the global fleet fell to 7.1 per cent in October. Photo: Shutterstock

Coronavirus impact on global trade prompts ship firms to cut back on new vessels

  • In October new ship orders as a percentage of the global fleet fell to 7.1 per cent, the lowest level since 1989, according to Clarksons Research
  • Many companies opting to charter or buy vessels already in service over commissioning new ones, helping drive up sea freight rates

Topic |   Trade
New ship orders as a percentage of the global fleet fell to 7.1 per cent in October. Photo: Shutterstock New ship orders as a percentage of the global fleet fell to 7.1 per cent in October. Photo: Shutterstock
New ship orders as a percentage of the global fleet fell to 7.1 per cent in October. Photo: Shutterstock
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