S&P and Newbuilding Weekly 07 August 2026

Newbuilding activity this week is subdued due to the Korean shipyards' annual holiday, though Chinese yards remain active. Korean shipbuilders have seen a 23.5 per cent year-on-year increase in contracted CGT, totaling 6.8 Mn CGT in 2026, despite losing market share to China. This uptick underscores Korea's strategic importance in higher-spec tonnage, particularly in LNG projects, as they contend with geopolitical pressures favoring their offerings over Chinese alternatives. Conversely, the tanker sector is experiencing a lull in transactions due to geopolitical uncertainty, with key market participants holding off on significant investments until clearer market conditions emerge. The dry bulk market continues to show robust activity, especially for Kamsarmax sales, reflecting sustained demand amid firm asset values.