As many as 561 container vessels were ordered in 2021 compared to 114 in 2020 and 107 in 2019, according to the latest report by VesselsValue.

"The 2021 boxship orders amounted to $43.39 billion, 47.4 percent of the year's total and surpassing the entire cargo fleet orderbook value of 2020. Asia accounted for the majority of 2021 containership orders with Taiwan, China, Singapore, South Korea, and Japan ordering 314 vessels between them, 66 percent of the global total," the report said.

As many as 1,286 cargo vessels analysed by VesselsValue - containers, bulkers, small dry, tankers and gas - were added to the orderbook in 2021, a 33 percent increase from the 969 vessels ordered in 2020.

This is paired with an extraordinary growth in price for certain vessels. 2020's total orderbook was worth $42.83 billion compared to 2021's $91.61 billion, a staggering 114% increase.

Majority of vessels ordered (1,217) are to be constructed in China, South Korea and Japan; 682 in China, 391 in South Korea and 144 in Japan.

"2021's unprecedented box demand led to owners investing heavily, attempting to plug the supply gap," the report said.

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