The Clarksons Newbuilding Price Index stood at 182.14 at the end of February 2026, compared with 184.83 at the end of 2007 and 189.69 in the third quarter of 2024.
The data shows that the shipbuilding market has recovered from the drop in order prices that followed the 2008 financial crisis. Even so, the overall increase in the index was only 2.6% compared with the level recorded 17 years earlier.
Because the index is calculated by combining construction costs across all ship types, that 2.6% rise indicates that room for further increases in overall newbuilding prices remains limited.
Changes by vessel type were mixed. In the gas carrier segment, the newbuilding price index for VLGCs rose from 93 in 2007 to 123 in 2024, an increase of about 24.0%. The data also shows that some higher-value ship types recorded double-digit growth.
In the tanker segment, the VLCC newbuilding price index increased from 146 in 2007 to 150 in 2008, then fell to 129 in 2024. The Suezmax index was 90 in both 2007 and 2024, while the Aframax index moved from 72.5 in 2007 to 75 in 2024.
In the bulk carrier segment, the Ultramax newbuilding price index declined from 48 in 2007 to 35 in 2024. The Kamsarmax index also fell, dropping from 46.5 in 2008, the first year available in the data, to 37.5 in 2024.
Some observers said shipowners generally take a conservative stance on increases in new ship construction costs unless exceptional conditions emerge, such as war or an unprecedented surge in cargo volumes. Against that backdrop, they believe the limited rise in ship prices, despite continuing increases in shipbuilding costs, could add to the burden on shipyards, especially labour costs, which account for a significant share of total expenses.
