It's not possible to draw firm conclusions from it as you can't...

It's not possible to draw firm conclusions from it as you can't find out easily how much new shipping is launched each month - for instance, the big drop from 12,000 was caused as much by a glut of new shipping as a fall off in trade.

I've been following it for many years, though, as it does give some indications - I can't see there being a glut of new ships coming, and I just think it is confirmation that China is slowing quite rapidly.