S&P and Newbuilding Weekly 31 July 2026

The newbuilding market displays a seasonal slowdown as Korean yards prepare for holidays, resulting in reduced deal flow amid ongoing demand from Chinese shipbuilders, which accounted for 76.5 per cent of orders this year. Despite this, 1H 2026 recorded unprecedented levels of contracting, with 129.1 Mn DWT ordered, driven primarily by a surge in crude tanker orders, including 167 VLCCs and 78 Suezmaxes—a combined 63.4 Mn DWT, representing the largest half-year for crude contracting by DWT. However, the overall orderbook stands at a manageable level compared to fleet size, suggesting more optimistic supply side fundamentals for markets outside crude, particularly in the dry bulk sector where orderbooks remain historically low and demand persistently strong.