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Singapore-based owners set to take record deliveries in 2018Singapore-based owners set to take record deliveries in 2018

Singapore-based owners are set to take delivery of the highest number of vessels on record yet by the end of 2018, according to valuation platform VesselsValue.com. The previous record was in 2008 at the peak of the asset value spike. A large number of market participants have placed orders for a wide variety of ship types, and the chart above includes all major vessel segments from offshore to VLCCs, it added.

Vincent Wee, Hong Kong and South East Asia Correspondent

April 27, 2018

1 Min Read
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There will be some slipping in these planned orders as market weakness persists in the tanker and offshore segments, but even with this considered 2018 should be a bumper year. Over 80 companies account for these orders, which reflects the rich maritime ecosystem of Singapore.

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The orderbook outstanding in 2018 catapults the Lion City to the number two spot of expected deliveries, with the 250 vessels expected to hit the water this year just behind China, and cements the role of the Republic as a key player in the global shipping markets in the years ahead. Singapore’s terminals are a critical hub for containerships, tankers, and dry bulk vessels.

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About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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