Newbuilding orders during the January to October period have slumped to the lowest level seen since the 1980s, according to Clarksons Research.

In the first ten months, global shipbuilding orders booked 359 units of a combined 24.8m dwt (9.6m cgt), showing a 73% annual drop in dwt terms.

As of the end of October, Clarkson's newbuilding price index stood at 124.0 points, down by 6.1% from a year earlier.