Ship owners rush to shipyards to finalize deals as year-end draws closer

The final weeks of each year, have traditionally seen the conclusion of more newbuilding orders than usual, since most ship owners are looking to finalize agreements which have been on the negotiating table for the past few weeks. As such, this past week saw the reported emergence of orders for 90 newbuilding vessels, boasting a total deadweight of 5,113,600 tons,