GRIN - Ship orders turn around from historic lows to seven-year highs

Ship orders so far this year have reached the highest volumes since 2014 despite concerns from many owners about future propulsion methods, Splash247 reports.According to Clarkson Research, much of the move has come from surging boxship orders, with 218 vessels of 2.2M teu and 22.9m dwt contracted YTD, lifting the boxship order book-to-fleet ratio near 20%, with 57 orders for liquefied petroleum gas carriers but just 88 for tankers and 81 for bulk carriers.It's a remarkable turnaround from a year ago, when new shipbuilding orders in H1 2020 fell 57% to the lowest levels of the 21st century, as just 269 ships – equivalent to 5.75M cgt – were contracted around the world.The Baltic Dry Index (BDRY) settled +0.4% to 2,881 points, rising for a fourth straight day.Among many relevant tickers: [[SHIP]], [[DSX]], [[EDRY]], [[EGLE]], [[GNK]], [[GRIN]], [[NM]], [[NMM]], [[SB]], [[SBLK]]

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Ship orders turn around from historic lows to seven-year highs