Poor Economy Stalls New Shipbuilding Orders

Newbuilding orders for container ships may remain stagnant despite freight rates surge to record high levels this year as shipping firms pursue a strategy of limiting capacity.
As the economic outlook for the sector remains uncertain and environmental regulations place new requirements on ships.
It makes more sense for container lines to charter or buy existing ships rather than build new ones, as per a panel at the New York Maritime Forum virtual event on Oct. 15.

Major container ship...