SHIP orders in the year to date are at the highest volumes seen since 2014, reports Singapore's Splash 247.

A total of 526 orders of 46.4 million deadweight tonnage (dwt) and 34.6 million gross tonnage (gt) have been reported so far according to data from Clarkson Research Services.

Much of this uptick has come from the surge in box ship orders, with 218 vessels of 2.2 million TEU and 22.9 million dwt contracted in the year so far, propelling the box ship orderbook-to-fleet ratio towards the 20 per cent mark.

There has also been notable interest in LPG carriers, with 57 orders, according to Clarksons. Meanwhile, just 88 tankers and 81 bulk carriers have been ordered

Chinese and South Korean yards have taken the majority of orders in 2021 so far, each accounting for 46 per cent of the global total in dwt terms.

Prices have also picked up sharply to levels not seen since 2014.