Newbuilding orders declined logically in response, according to market research firm Markets and Markets (MaM), from 75.3 million tonnes deadweight (1,120 ships) in 2019 to 70.6 million tonnes deadweight (859 ships) in 2020. It was the second consecutive year of falling demand after peaking at 87 million tonnes deadweight (dwt) in 2018. Nonetheless, the shipbuilding industry remained remarkedly resilient in 2020 compared with some other recent years such as 2009 and 2016, when newbuilding orders barely exceeded 30 million tons deadweight. Although the demand for bulkers and special ships followed this global downtrend, demand for tankers was almost on a ...