China accounts for 80% of new ship orders

Global new ship orders finally saw a glimmer of hope in June. Latest statistics from Clarkson show that the new ship orders in June totaled 1.83m dwt, with Chinese yards grabbing 1.6m dwt with Korea bagging the remainder. Chinese owners were responsible for 80% of the orders.  China's stimulus package is bringing plenty of credit for both local owners and builders.