A total of 245 orders for newbuild ocean vessels were placed during the first half of this year, which is less than half of the amount placed during the same period two years ago (594), but down only slightly from the 254 orders placed during the first six months of 2016.
Of the 245 orders placed so far this year, 145 have been for tankers, a sizable increase from the 118 orders placed in 2016, but still well below the 181 orders placed during the first half of 2015, reported American Shipper.
A total of 70 bulker orders have been placed, up from last year's 43, but significantly lower than the 229 vessels ordered two years ago.
The number of LPG vessels ordered however, has remained steady, growing from 18 two years ago to 19 in 2016, before dipping slightly to 16 so far this year.
Orders of LNG vessels continued their decline, falling from 26 in the first half of the year two years ago to seven last year and four so far in 2017.
The news of the declines comes on the heels of shipbroker Clarksons saying that the number of shipyards across the globe building large commercial vessels has declined by 62 per cent in the past eight years.