October ship orders lowest for more than two years

New vessel orders for October came in at their level for more than two years.

Clarksons' shipbuilding figures show 38 ships were contracted last month, down from 95 in the same month last year.

This is the lowest level since February 2016, when 24 new deals were signed.

More orders may yet come to light for the month, but it shows a stark downward trend in some tough shipping markets.

In the year to date, only 892 new contracts have been recorded, down from 1,340 in 2017 and 1,119 in 2016.

There were no offshore vessels and no containerships ordered last month.

A number of ferries, LNGCs, ro-ros and a tug featured, but the list is dominated by tankers and bulkers.

These include five tankers for Daitoh and two for Gunvor Group, and four bulkers for AVIC Leasing.