Description
Global New Shipbuilding Orders (Cumulative Value) is compiled and published by major maritime industry organizations. This indicator measures the total value of new ship orders received by shipyards worldwide. It is commonly used to assess the economic conditions of the global shipping and shipbuilding industries. Higher volumes of new shipbuilding orders typically reflect strong demand for new vessels, which can be viewed as a positive signal for the global economy. Conversely, lower figures may indicate weak demand and potential economic downturn.
The new shipbuilding orders volume is calculated by accumulating the total value of new shipbuilding contracts signed by global shipyards within a specific period. The statistical scope includes orders for tankers, bulk carriers, container ships, and other specialized vessels.
This data is usually updated monthly or quarterly, depending on the reporting practices of maritime industry organizations.