Singapore is set to take delivery of its highest number of newbuild vessels in 2018, with orders placed by 80 companies so far, according to data firm VesselsValue.
A total of 251 vessels are expected to leave yards in Singapore this year, breaking the 2008 record of just over 200.
Vessel Value said “the number catapults the Lion City to the number two spot of expected deliveries this year and cements the role of the Republic as a key player in the global shipping markets in the years ahead”.
Singapore’s terminals are a critical hub for container ships, tankers, and dry bulk vessels.
VesselsValue said the North Sea could see a number of these vessels but many are not built for the specific conditions required and that most major shipping businesses “maintain a presence” in Singapore.
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