Tugboat Construction Orders Increase Globally

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 22. World shipyards areincreasing tugboat construction in 2024, Trend reports referring to the InternationalTug and Salvage (ITS).

During the initial quarter of 2024, shipyards worldwidecompleted the construction of 72 tugboats (in contrast to 64 unitsduring the same period in 2023 and 67 in the fourth quarter of2023) and also secured orders for the construction of 70 additionaltugboats (compared to 62 ordered vessels from January to March2023).

Overall, the new contracts bring the global tugboat order bookto 365 units by May 2024 (compared to 348 orders at the end of 2023and 323 in the first quarter of 2023).

According to International Tug & Salvage, customers include bothlarge tug fleet owners and smaller operators who are buyingfinished vessels from shipyards' warehouses.

"This indicates an increase in economic activity globally," theanalysts said.

Orders to build tugs are being fulfilled by Brazilian, Chinese,Turkish, and US shipyards.

In 2023, the world's shipyards commissioned 302 tugboats.

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