The year 2012 saw the turn of the largest shipbuilding cycle in terms of GT in recorded history.
Between 2001 and 2011 year after year newbuilding deliveries reached new historical highs. Even
After the economic downturn of 2008 the dead-weight tonnage delivered annually continued to increase for three more years due to orders that had largely been placed prior to the crisis. Only in 2012 for the first time since 2001 was the fleet that entered into service during the year less than that delivered during the previous 12 months
In spite of this slowing down of new deliveries the world tonnage continued to grow in 2012 albeit at a slower pace year –on-year growth amounted to 6 per cent compared to a 10 per cent increase the previous year the world fleet more than doubled since 2001 reaching 1.63 billion dwt in January 2013 (figure 2.1 and tadle 2.1).