European shipyards soar on orders in 2016

Orders for European shipbuilders increased more than 45 percent in the first eight months of 2016, while Asian yards are hit hard by the lowest number of newbuilding orders in 20 years, notes Bimco.

Remontowa, Poland

The European shipbuilders had a strong first eight months of the year, unlike their competitors in South Korea and Japan.

In this period the European shipbuilders contract orders for 2.53 million CGT, compensated gross tonnage, up 45.3 percent against the same period last year, reports shipping association Bimco.

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