The slots in China and South Korea for 2026 are “counted on the fingers of the hand”, while those with scheduled delivery in 2027 are now drying up at high speed.
“The situation regarding the availability of slots is always complicated until the orders are confirmed. “Orderbook data shows significant yard space for 2027 (about 75% of global production), but brokers report that some ship types are close to being sold out,” Stuart Nicoll, Director of MSI points out. Read more at Naftemporiki.
Brokers are reporting more “heightened activity” in the containership charter market as ocean carriers fight to secure tonnage to mitigate the impact of Red Sea diversions.
According to an analysis by MSI, carriers could need to deploy up to 200 extra ships on their east-west networks in order to maintain weekly sailings. Read more at The Loadstar.
Oil tanker ordering remained firm in 2023, with vessels of 23.98m dwt booked. The figure increased by 3.6 times against a year ago. Maritime Strategies International (MSI) said, “Such a growth results from very large crude carriers”. Read more at Asiasis.
Demand to be transformed by increasing move from fertiliser production to bunkers.
A surge in demand for clean energy is set to boost the ranks of very large ammonia carriers (VLACs) as the ammonia trade is transformed.
MSI predicts the next 25 years are likely to see requirements for green and blue ammonia providing the impetus for owners to order close to 400 VLACs compared with a current fleet of 375 VLGCs focused on carrying LPG. Read more at TradeWinds.
Liner shipping has entered 2024 in unexpected rude health thanks to the massive diversions away from the Red Sea soaking up tremendous capacity and putting spot rates at highs not experienced ever before outside of the covid era.
According to analysis by UK consultants MSI, the increase in freight rates is greater than can be justified by increased costs from diverting via the Cape of Good Hope. Read more at Splash247.com.
Rerouting vessels via the Cape of Good Hope clearly takes longer and consumes more fuel per unit of commodity transported than via the Suez Canal, but the costs associated with environmental regulations illustrate the perverse incentives in play, according to an investigation carried out by UK consultancy MSI. Read more at Splash247.com.
A new wave of Middle East refineries and demand for tonnage on long-haul Russian routes drove newbuilding tanker orders in 2023 to levels three times higher than the previous year, said MSI. Read more at TradeWinds.
Where are shipping markets headed in the next 12 months? Get the view of the experts in our 2024 markets outlook podcast episode.
In the first episode of the Seatrade Maritime Podcast for 2024 you will hear from MSI analysts. They will be covering the macro-outlook for shipping as whole and then drilling down into the individual markets of container shipping, dry bulk, oil tankers, and shipbuilding. Listen at Seatrade Maritime.
The disruption would need to stretch into the first quarter of 2024 to impact either the boxship charter market or a wider set of freight markets in a major way, said UK analyst MSI. Read more at Tradewinds
The containership charter market is set to get a boost from the Red Sea crisis, as ocean carriers look to plug holes in their networks early next year. Moreover, due to the impact of Suez Canal diversions on their capacity requirements, the carriers are likely to reinstate suspended services and cancel blanking programmes said MSI. Read more at The Loadstar
