MSI said the most recent data suggests that “a degree of caution is more than warranted” as it sees a plateauing of some measures of activity in China, most notably of fixed asset investments (construction and infrastructure), which are being accompanied by a notable slowdown in steel production rates. Read more at Lloydslist
Month: May 2023
Proman to go all-in on methanol for future shipping fleet
The newbuild price of a MR tanker rose to $44.1 million in February from $42.8 million in 2022 and $37.6 million in 2021, according to consultancy MSI. Read more at S&P Global
Next-generation wind turbines go beyond legacy lifting capabilities
Growth in size of offshore wind turbines drives need for larger lifting capacities. Using data produced by MSI, forecasting the total number of offshore wind projects to be installed per year, for both fixed and floating foundation windfarms, UK-based HLP believes project developers will struggle to meet demand, based on current logistics practices and equipment provision. Read more at Riviera
Shipyards dust off facilities to meet huge fleet renewal demand
Mothballed capacity is being brought back to life as contracting is forecast to rise. “Expansion in capacity will certainly be needed in the second half of the decade, when we expect a surge in contracting volumes in response to the twin requirements of fleet renewals and decarbonisation efforts,” says MSI director Stuart Nicoll. Read more at TradeWinds
Will slow steaming balance out container shipping’s capacity problem?
DATA released recently by MSI, show that the months of this year have been ‘dismal’, but there is an expectation that the industry will see some modest annual trade growth at least, starting from the middle of this year. Read more at SeaNews