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
Author: MSI
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
Shipyard capacity expected to expand amid push for dual-fuel orders
Demand for alternative fuel newbuildings will spur expansion of shipbuilding capacity, including bringing some of the collapsed yards back to life. But the boom seen in the 2000s, which later led to severe overcapacity problems, is unlikely to be repeated. The bounceback will mainly be led by demand for fresh tonnage using alternative marine fuels, especially those in the dry bulker and tanker sectors, said MSI managing director Adam Kent during a Sea Asia shipbuilding outlook seminar. Read more at Lloydslist
Longer voyages, aging fleet to boost global tanker freight despite OPEC+ output cuts
MSI’s London-based Director Tim Smith in a report said VLCC spot rate fluctuations are often associated with movements in crude prices and their substantial drop in the first half of March certainly affected freight. Read more at S&P Global.com
Shipyards build up to the challenge of launching a zero-emission fleet
A huge part of the world fleet will have to be replaced with zero-emission vessels in little more than two decades if regulators set a goal of decarbonising shipping by 2050. “Based on the evidence to date, it seems likely that most shipyards will make the step up in capability to meet demand for new green technologies, especially as the technology matures and becomes commodified,” says MSI director Stuart Nicoll. Read more at TradeWinds
Chemical tanker markets are finely balanced
MSI senior chemical tanker market analyst Bonita Nightingale said the market segment is likely to remain tight for the next two years. Read more at Riviera
Slow steaming can partially offset newbuilding surge, says consultant
Any recovery in the container shipping market will be overwhelmed by the flood of new vessels entering the market, according to maritime consultancy MSI. “On average larger vessels have seen average speeds drop by around 1 knot between mid-2022 and Q1 23, which if maintained would represent a meaningful reduction in effective vessel supply,” said MSI. Read more at The Loadstar