French orders to foreign shipyards

the previous year. Deliveries for this year are expected
to surpass those for last year, with 130 vessels displacing
2.4 million dwt. At the beginning of November 1998,
only 83 new vessels (1.6 million dwt) had joined the
fleet. Even with possible order cancellations, it is obvious
that the current over-capacity in the supply of available vessels
could become even more severe in the last quarter of 1999.
There are, however, several indications that the pressure
on freight markets caused by the delivery of newbuildings
may abate after early next year. The backlog of chemical
40
35
30
25
20
15
10
5
0
Number of ships
carriers has continued to fall at the same rate as the drop
in orders, which was 120 vessels, accounting for 2.5
million dwt at the beginning of November, or 10.5% of
the volume of the fleet in terms of tonnage. Deliveries
slated for the year 2000 amount to 50 ships, displacing
less than 1 million dwt. Shipyard activity is expected to
diminish by two thirds next year, a situation that should
greatly hearten shipowners.
The decline in backlog is mainly a result of a decrease in
orders for new vessels over the last twelve months.
Chemical carriers on order as at January 1, 2000
(in number of ships)
4-6,000 dwt
6-10,000 dwt
10-20,000 dwt
over 20,000 dwt
delivered in 1999 2000 2001 2002
North Challenge,
12,000 dwt,
blt 1998
by Watanabe
owned by
Tachibanaya,
long t/c
to Houston
Shipping (USA)
T h e c h e m i c a l c a r r i e r m a r k e t
S H I P P I N G A N D S H I P B U I L D I N G M A R K E T S 2 0 0 0
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