BAKU: World shipyards are increasing tugboat construction in 2024, Trend reports referring to the International Tug and Salvage (ITS).

During the initial quarter of 2024, shipyards worldwide completed the construction of 72 tugboats (in contrast to 64 units during the same period in 2023 and 67 in the fourth quarter of 2023) and also secured orders for the construction of 70 additional tugboats (compared to 62 ordered vessels from January to March 2023).

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

According to International Tug and Salvage, customers include both large tug fleet owners and smaller operators who are buying finished vessels from shipyards’ warehouses.

“This indicates an increase in economic activity globally,” the analysts said.

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

In 2023, the world’s shipyards commissioned 3
02 tugboats.

Source: Trend News Agency