Archives for category: Technology

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.

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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.

 

This week we review scrubber retrofits, tracking the vessels, yards and volume of tonnage involved. As activity ramps up, and with >1% of the fleet on an annualised basis projected to be off hire, shipping market fundamentals may get a helpful boost. But despite this ramp-up, looking ahead will it be long before our LNG fuel capable vessel count (~800 today) matches our scrubber vessel count (~4,000)?

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

In this week’s analysis, we again update shipping’s mid-year report, reviewing progress across a range of shipping sector “subjects”. Our overall ClarkSea Index increased 8% y-o-y in the first half, to move marginally above the trend since the financial crisis. However while some “subjects” still achieve an “A” for effort, others might have to “repeat a year” unless they sit additional classes over the summer!

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

 

We all know shipbuilding is one of the toughest businesses around but just how tough was 2018? Well it seems the answer depends on which unit of measurement you use! Using DWT, ordering fell 14% to 77m dwt while using CGT, a better reflection of the work content of building vessels, ordering increased by 2%. On balance its seems that conditions remain challenging but still improving on the 2016 lows.

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

On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset of the worst economic downturn for a century. To a shipping industry used to extreme cycles but transitioning to recession with rapid trade collapse and a huge newbuilding orderbook the initial shock was severe and the “hangover” prolonged. This week’s Analysis compares the situation almost ten years to the day.

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