Guangfa Machinery's latest tracking shows September new ship orders slightly declined 9.6% YoY but August orders were revised up to +45.7% YoY, while cumulative Jan-Sep orders surged 103.9% YoY to a record high. Newbuild and secondhand ship prices continue to rise, with tanker and bulker prices hitting new highs.
The shipbuilding supercycle is far from over, and Chinese shipyard leaders are poised to benefit from record orders and rising prices.
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