Ship orders world-wide have shrunk to the lowest level in 15 years as vessel owners struggle with excess capacity that has kept freight rates well below break-even levels.
There were 3,200 vessels of a combined 81 million gross tons ordered globally in the first quarter, the lowest figure since 2004, marine data provider Clarksons PLC said in a report released Friday.
Headline export and import news still negative:
Taiwan Export Orders Fall for 5th Straight Month
Thai Imports Fall Sharply in March
Thai Exports Drop More than Expected