World Shipbuilding Statistics Facts & Figures Committee Simon Stonehouse Marine Hull Underwriter
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Transcript of World Shipbuilding Statistics Facts & Figures Committee Simon Stonehouse Marine Hull Underwriter
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World Shipbuilding StatisticsFacts & Figures CommitteeFacts & Figures Committee
Simon StonehouseMarine Hull Underwriter
Brit Syndicates Ltd. / Lloyd’s of London
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The statistics for this presentation have been derived from the Clarkson database. The Statistics have been compiled by the IUMI Facts and Figures Committee. The value of the current order book has been done by taking the known contract value or if not known the current new building price has been used.
Compensated Gross Tonnes :- In the 1970s European and Japanese builders came to the conclusion that measuring shipyard output by tonnage alone did not give a valid comparison. A yard building a 5,000 GT ferry would be doing as much work, in terms of man-hours and adding value, as a yard building a 15,000 GT bulk carrier. A set of conversion factors was agreed at the OECD in 1977 and updated in 1984. Under this system a VLCC of 250,000dwt and 125,000 GT would have a cgt of 31,250.
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Region /Country ClassificationAfrica: Algeria, Angola, Ethiopia, Seychelles, South Africa
Americas: Argentina, Australia, Brazil, Canada, Chile, Venezuela
China: China
Europe: Austria, Belgium, Croatia, Cyprus, Denmark, Eire, Finland, France, Germany, Greece, Iceland, Italy, Monaco, Netherlands, Norway,
Poland,Portugal, Romania, Slovakia, Spain, Sweden, Switzerland, Turkey,
UK
Far East: Bangladesh, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Sri Lanka, Thailand, Vietnam
FSU: Azerbaijan, Kazakhstan, Latvia, Russia, Ukraine
Japan: Japan
Middle East: Dubai, Egypt, Iran, Israel, Kuwait, Qater, Saudi Arabia, U.A.E.
South Korea: South Korea
Taiwan: Taiwan
USA: USA
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World Orderbook tops 200 m dwt
• Since 2002 the orderbook has jumped from 112 m dwt to 227 m dwt
• Orderbook is now 26.7% of the fleet, historically very high
• Biggest increase in 2005 LNG, LPG & containers
020406080
100120140160180200220
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
Milli
on D
wt
LNGLPGMPPCellularCombosTankersBulkers
Doubled since 2002
Orderbook 1983-2006
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Newbuilding Prices Peaked
• Aframax tanker peaked at $53MM in 1990, but new price fell to $33MM in Dec 1999 and today it costs $62 mill
• Some ships cost twice what they did four years ago 90
115
140
165
190
Jan
'90
Jan
'91
Jan
'92
Jan
'93
Jan
'94
Jan
'95
Jan
'96
Jan
'97
Jan
'98
Jan
'99
Jan
'00
Jan
'01
Jan
'02
Jan
'03
Jan
'04
Jan
'05
Jan
'06
New
Pri
ce In
dex
198
8=10
0 Note the price increase really clicked in during 2004
27%
New Prices 1990-2006
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Orders by Country
New Orders by country
2005 Orders by Owner Country
0 2 4 6 8 10 12 14 16
Singapore
Iran
South Korea
Italy
Denmark
Greece
Norway
China P.R.
United States
Japan
Germany
Billion US Dollars
2005 Orders by Owner ($bn)
0.0 0.5 1.0 1.5 2.0 2.5
A.P. Moller
Reederei C.-P. Offen
Teekay Shpg. Canada
Kawasaki Kisen
Cido Shipping
Nippon Yusen Kaisha
Mediterranean Shpg.
NYK/KLine/MOL/Iino
Nat. Iranian Tanker
Royal Caribbean
Maersk Line
Billion US Dollars
• European owners dominated investment in 2005 with the Germans leading the way.
• Second was Japan followed by the United States, driven by an increase in large cruise ship contracting.
• Chinese owners the 4th largest investors in 2005.
• Maersk Line were the number one investor followed by Royal Caribbean and National Iranian Tankers.
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World Shipbuilding: Shares of Deliveries
0 %
5 %
10 %
15 %
20 %
25 %
30 %
35 %
40 %
45 %
50 %1975
1977
1979
1981
1983
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
% C
GT
Deli
veri
es
Europe
Japan
Korea
China
Others
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China Shipbuilding Expanding
• In 2001 China produced 1.1 million CGT, about the same as the previous four years.
• In 2005 output reached 3.7 million CGT, putting China in the Big League
• 7.2 million CGT of orders in 2005
0 1 1 1 1 1 1 1 12
3 34
0
1
2
3
4
5
6
7
8
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
Milli
on C
GT D
eliv
erie
s
ForecastDeliveriesOrders
Source: China Shipbuilding
China Orders & Deliveries
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World Fleet Growth 2001-5 & Forecast
2001 2002 2003 2004 2005 2006 2007
Orders 45.4 52.8 117.2 103.9
Deliveries 45.6 49.5 55 61.4 70.5 71.8 71.3
Scrapping 28.3 28.7 27.1 10.6 8.5 13.1 13
World Fleet yr end 755.3 773.3 797.1 843.9 906 966 1,024
Increase (m dwt) 13 18 24 46 62 60 58
Dwt of Ships Forecast Jan 2006
0 %
2 %
4 %
6 %
8 %
2001 2002 2003 2004 2005 2006 2007
Growth of World fleet
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China24 %
FSU2 %
Europe19 %Far East
8 %
Japan19 %
Middle East1 %
South Korea23 %
Taiwan1 %
USA1 %
Americas1 %
Unknown1 %
Total No 5,653
Vessels on Order By Country of build @ August 2006 (Number)
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Americas1 % China
19 %
FSU1 %
Europe14 %
Far East3 %Japan
21 %
Middle East0 %
Taiwan1 %
USA1 %
South Korea39 %
CGT
Vessels on Order by country of build @ 16th August 2006 (CGT)
Total 119.8 million CGT
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Average size of vessel built by Region
0
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000A
me
rica
s
Ch
ina
FS
U
Eu
rop
e
Fa
r E
ast
Jap
an
Mid
dle
Ea
st
So
uth
Ko
rea
Ta
iwan
Un
kn
ow
n
Av
g D
Wt
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0
100
200
300
400
500
600
700
800
900
1000
Ger
man
y
Japa
n
Gre
ece
Nor
way
Den
mar
kC
hina
P.R
.
Italy
Net
herla
nds
Uni
ted
State
sSin
gapo
re
Turk
eySou
th K
orea
Hon
g K
ong
Fran
ce
Uni
ted
Kin
gdom
Top Contracting Countries by Number of Vessels on Order
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China
Europe
FSU
Japan
South Korea
Taiwan
Unknown
USA
Far East
Middle East
AfricaAmericas
FSU
Number on Vessels on order by Owner region (Number)
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0
10 000 000
20 000 000
30 000 000
40 000 000
50 000 000
Japa
nG
reec
eG
erm
any
Chi
na P
.R.
Den
mar
kN
orw
ayH
ong
Kon
g
Iran
Italy
South
Kor
eaU
nite
d Sta
tes
Saudi
Ara
bia
Turk
eySin
gapo
reTa
iwan
Can
ada
Rus
sia
Top Contracting Countries by DWT of Vessels on Order
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FSU
Japan
South Korea
Taiwan
Unknown
USA
Far East
Middle East
Africa
Europe
ChinaAmericas
FSU
Number on Vessels on order by ownership region (DWT)
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What’s being built? (Number)
0
200
400
600
800
1000
1200
1400
Conta
iner
Bulk
Chem
& O
ilPro
duct
s
Tanke
r
MPP
Tug/Supply
Other
LPG
PCCGen
Cargo
LNG
RoRO
Ferry
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What’s being built? (DWT)
0
10 000 000
20 000 000
30 000 000
40 000 000
50 000 000
60 000 000
70 000 000
80 000 000
Tanke
r
Bulk
Conta
iner
Produ
cts
Chem
& O
il
LNG
LPG
MPP
PCC
Other
FPSO/F
SOGen
Cargo
RoRO
Tug/SupplyCru
ise
Ferry
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China19 %
FSU1 %
Europe18 %
Far East3 %
Japan19 %
Middle East0 %
South Korea37 %
Americas2 %
Taiwan1 %Unknown
0 %
Total Value 275.1 billion US$
Overall contract value of vessels on order
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Actual Value of New building Vessel Type
0
10 000 000 000
20 000 000 000
30 000 000 000
40 000 000 000
50 000 000 000
60 000 000 000
70 000 000 000
80 000 000 000
Conta
iner
Bulk
Tanke
rLN
G
Produ
cts
Chem
& O
il
Cruise
Other
LPG
PCCM
PP
FPSO/F
SORoR
O
Tug/S
uppl
y
Ferry
GenCar
go
US
D
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Contract Value of New building contracts by country
0
20 000 000 000
40 000 000 000
60 000 000 000
80 000 000 000
100 000 000 000
120 000 000 000
SouthKorea
China Japan Europe
US
D
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0
500
1 000
1 500
2 000
2 500
3 000
3 500
4 000
4 500
China
Croat
ia
Denmar
k
Finlan
d
Franc
e
Germ
any
Italy
Japa
n
Nether
lands
Norway
Poland
Romania
Russia
Singap
ore
South
Kore
a
Taiwan
Turke
yUSA
Vietnam
US
D
Average US$ per CGT