Archives for category: Shipbuilding

After five years of declining output, global shipyard output increased marginally in 2019, to 32.8m CGT. However, the recovery in ordering since 2016 reversed, with contracting down 30% despite an improving earnings environment (ClarkSea Index up 24%), underlying demand for tonnage to meet global trade (11.9bn tonnes in 2019) and fleet replacement (23% of tonnage over 15 years).

For the full version of this article, please go to Shipping Intelligence Network.

Containership earnings made progress through most of 2019, although improvements were heavily weighted towards the larger size segments. Meanwhile, the box freight market generally proved challenging for operators, with limited headway in terms of spot rates, and on average charter market levels were actually fairly similar to 2018. A mixed picture, so what do the annual statistics show?

For the full version of this article, please go to Shipping Intelligence Network.

 

The final year of the decade saw further improvements across the shipping markets with a 24% increase in our ClarkSea Index taking it to its highest level since 2010, principally driven by gains in the tanker and gas segments. Meanwhile the impact of “headline” growth in seaborne trade (1.1% to 11.9bn tonnes) and world fleet (4.1% to 2.1bn dwt) were supplemented by IMO 2020 related “adjustments”.

For the full version of this article, please go to Shipping Intelligence Network.

As we close in on the end of the decade, this week’s analysis compares data from shipping’s last forty years. It’s certainly been a tough decade, much of it spent dealing with the aftermath of the financial crisis and working through shipping’s surplus capacity. But it’s been far from a “dead decade”: trade growth of 3.7bn tonnes, 1.2bn dwt of deliveries and an improving ClarkSea Index as we close out…

For the full version of this article, please go to Shipping Intelligence Network.

In 2019, the shipping markets as a whole appear to have ‘warmed’ for the third consecutive year, and some key markets have sizzled at certain points. But at the same time it has been a different story in terms of fresh asset investment. Pulling the two elements together to take a wider reading of the shipping ‘temperature’ can help put this year into perspective…

For the full version of this article, please go to Shipping Intelligence Network.

As last week’s Analysis showed, deliveries from the shipyards have picked up this year, and the fleet has grown more quickly than many expected. However, supply-side growth still looks fairly ‘manageable’ in many sectors, and not only is the orderbook now down to a historically low 9% of the fleet, but currently the ‘effective’ capacity growth in key sectors is being slowed by scrubber retrofit activity…

For the full version of this article, please go to Shipping Intelligence Network.

 

With Christmas not far away, ships around the world have been busy delivering eagerly-awaited gifts in time for the festive shopping season. Shipowners have been receiving their own ‘presents’ too, with deliveries of new vessels up significantly in the year so far. What’s more, the newbuilding orderbook has perhaps proved more responsive to changing market conditions than some might have expected.

For the full version of this article, please go to Shipping Intelligence Network.

 

In April 2018 the IMO adopted an initial strategy on the reduction of GHG emissions from ships which set out three main targets for the shipping industry, in terms of average CO2 intensity in 2030 and 2050, and total CO2 emissions in 2050. These goals, in particular the 2050 absolute target (a 50% reduction) and the transition to alternative fuels (see SIW 1,391), are now a significant focus of attention.

For the full version of this article, please go to Shipping Intelligence Network.

Not for the first time in shipping’s history, the industry’s choice of fuel is sharply in focus. This week we review not just the imminent low sulphur fuel switch, but also the role of alternative fuels in reducing the ~820mt carbon (~2.3% world output) that the shipping fleet produces per year. But for an industry that took over 50 years to switch from wind to steam, the impact may be no less radical and quicker besides!

For the full version of this article, please go to Shipping Intelligence Network.

This week’s Analysis outlines recent trends in the shipping markets, in a summary taken from our upcoming Shipping Review & Outlook. From the varying market cycle positions, to economic headwinds, “manageable” supply growth, changing financial landscape, growing focus on environmental regulation and ‘green’ technology, and impacts of IMO 2020, there is plenty to review!

For the full version of this article, please go to Shipping Intelligence Network.