The London P&I Club has said the increasing amount of new tonnage being ordered by its members, and entered with the club for P&I and FD&D risks, is confirmation of the healthy state of the shipping industry.
It said 25% of the vessels entered with the London club during the past 12 months have been new builds, many entered by shipowners who had not previously bought new tonnage.
It said the new buildings were split equally between tankers, bulk carriers and container ships.
Michael Hill, underwriting director for club managers A Bilbrough & Co, said: "Shipping markets generally are going through a boom period at the moment. One consequence has been the huge demand on shipyards throughout the world for all types of vessels, with the result that many buyers now face a two-to-three-year wait for the delivery of new buildings."
Hill continued: "While properly maintained and carefully operated older vessels will always form a large and important section of the market, an influx of new tonnage can contribute to the continuing health and vibrancy of the industry. It is also a key component in the growth and development of the club."
The club said the influx of new tonnage had helped reduce the age profile of the club's entered fleet to 13 years, against a world average of 18 years.
