The appetite for newbuildings is evident as we move into 2018, with Greek owners continuing to building on an impressive $4.7bn investment in projects in 2017.

Damen Shipyards and Concordia Group have inked a joint venture agreement for the building and trading of inland waterway vessels.

The two China yards that will be building CMA CGM’s landmark 22,000 teu LNG-fuelled containerships signed the classification contract together with the French line and classification society Bureau Veritas (BV) at a joint ceremony at Marintec China.

The Philippines Department of Trade and Industry (DTI) is planning to spur the local shipbuilding industry by providing a support package for the manufacture of small and medium-sized vessels for domestic use, local reports said.

The Tripartite Shipbuilding Forum, which brings together shipowner associations, classification societies and shipyards, saw some 100 delegates at its annual meeting in Nantong this year and saw carbon emissions, safety and cyber security coming to the top of its agenda.

Dutch shipyard owner Damen is taking a step into the big league buy over Daewoo Shipbuilding & Marine Engineering’s (DSME) majority stake in Romanian yard Daewoo Mangalia Heavy Industries (DMHI).

Chinese yards saw new orders pick up in the first nine months of the year, rising 8.7% from the previous corresponding period to 20.13m dwt as a recovery in dry bulk shipping rates in the later part of the year seemed to inspire more new orders.

Executives from Chinese group China Cosco Shipping have been briefed by the Greek government as it pledges to sort out the future of the country’s floundering shipbuilding and shiprepair industry.

With a “perfect storm” in the newbuilding market global shipbuilding capacity is set to decline by 20 – 30% by the end of the decade according to Clarksons Platou.

Banks should play a much more proactive role in badly needed consolidation across the offshore support vessel sector, said René Kofod-Olsen, chief executive of Topaz Energy and Marine, as he declared that the last thing that was needed was another round of new contracting.

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