New commercial ship orders peaked in 2005 when around 7.15 million CGT worth of ships were ordered at shipyards in the European Union (EU), including the United Kingdom (UK) at the time, and Norway. The volume of new orders reached its lowest value in 2009 - about 550,000 CGT - as a result of the global financial crisis of 2007 and 2008. Afterward, new orders were oscillating but were generally showing a growing tendency.
In 2020, however, the volume of new orders dropped to some 0.9 million CGT, a decrease of roughly 65 percent compared with 2019. Similar to 2009, this significant decrease in new orders was due to the global event spurring an economic recession, the COVID-19 pandemic.
New orders and deliveries of commercial ships in the European Union (EU-27), United Kingdom, and Norway from 2002 to 2020
(in million CGT)
CGT stands for compensated gross tonnage. Compensated gross tonnage indicates the workload needed to produce a ship. It is calculated by multiplying the ship tonnage by a coefficient dependent on the ship size and type.
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Statista. (August 13, 2021). New orders and deliveries of commercial ships in the European Union (EU-27), United Kingdom, and Norway from 2002 to 2020 (in million CGT) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1257555/eu-27-plus-uk-and-norway-new-orders-and-deliveries-of-ships-ctg/
Statista. "New orders and deliveries of commercial ships in the European Union (EU-27), United Kingdom, and Norway from 2002 to 2020 (in million CGT)." Chart. August 13, 2021. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1257555/eu-27-plus-uk-and-norway-new-orders-and-deliveries-of-ships-ctg/
Statista. (2021). New orders and deliveries of commercial ships in the European Union (EU-27), United Kingdom, and Norway from 2002 to 2020 (in million CGT). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1257555/eu-27-plus-uk-and-norway-new-orders-and-deliveries-of-ships-ctg/
Statista. "New Orders and Deliveries of Commercial Ships in The European Union (Eu-27), United Kingdom, and Norway from 2002 to 2020 (in Million Cgt)." Statista, Statista Inc., 13 Aug 2021, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1257555/eu-27-plus-uk-and-norway-new-orders-and-deliveries-of-ships-ctg/
Statista, New orders and deliveries of commercial ships in the European Union (EU-27), United Kingdom, and Norway from 2002 to 2020 (in million CGT) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1257555/eu-27-plus-uk-and-norway-new-orders-and-deliveries-of-ships-ctg/ (last visited November 10, 2024)
New orders and deliveries of commercial ships in the European Union (EU-27), United Kingdom, and Norway from 2002 to 2020 (in million CGT) [Graph], Statista, August 13, 2021. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1257555/eu-27-plus-uk-and-norway-new-orders-and-deliveries-of-ships-ctg/
