VV: Newbuilding Orders Drop in April

zoomIllustration; Image Courtesy: HHI Twenty-one new ships were ordered worldwide during the month of April, according to a monthly market report released by Vessels Value.  When compared to April 2016, newbuilding orders have decreased by 27.6 percent. Out of 21 orders placed in April 2017, five were for bulkers and sixteen for tankers. Bulker orders have dropped by 61.5 percent from 13 orders placed in April last year. Bulker NB orders for April 2017 has been lower than April 2016, however, since the beginning of 2017, overall a higher number of orders have been placed compared to 2016, VesselsValue said in the report. However, tanker orders for April 2017 have risen by 23 percent. During the month, no newbuilding orders were received for container vessels, gas carriers or offshore support vessels (OSVs).