Upstream investment in floating production systems (FPS) and well tie-backs will drive demand for subsea construction and maintenance support vessels this decade.
MSI offshore energy market analyst, Joshua Belo-Osagie said “FPS projects in Latin America and West Africa, and maintenance work in the North Sea and Asia are driving market demand.” Read more at Riviera
“Unfortunately, it is not until around the end of the next decade that it becomes more economically viable to run green fuels than conventional fuels, or conventional fuels with a scrubber.” said MSI’s Managing Director Adam Kent. Read more at Tradewinds.
MSI Director, Tim Smith, said in a recent report that due to longer voyages, demand for ships, including ton miles, grew faster this year at 8% compared with oil itself around 2%. Read more at SPGlobal
MSI said there was potential for the capesize market to surprise on the upside “if a sharp and sustained recovery” in China’s steel industry materialises, but near-term pressures remain. Read more at Lloydslist
In the four years since 2018 the dry bulk fleet has expanded by 15%, but the volume of cargo has only expanded by 2.9%, even tonne-miles have only increased by 3.5% over this period, said Will Fray, director at MSI. Read more at World-Grain.com
MSI’s Offshore Energy Analyst, Joshua Belo-Osagie, is expecting 2023 to represent another robust period for the offshore marine supply chain, with offshore wind forecast to see a positive outlook for the foreseeable future. Read more at Splash247.com
MSI’s associate director Daniel Richards contributes to Splash 247’s survey which looks at how the container sector navigates its way out of its greatest ever boom. Read more at Splash247
Where will shipping markets be headed in the coming year? This the question we seek to answer in the first episode of the Seatrade Maritime Podcast for 2023.
In this episode listeners will hear from a panel of analysts from MSI discussing the macro-economic outlook for shipping, the container sector, dry bulk, tankers, and shipbuilding in 2023. Listen to the podcast at Seatrade Maritime.
Global tankers freight across clean and dirty products segments will likely be firm in 2023 but unlike the spectacular gains made in 2022, rates would face challenges due to possible crude production cuts and costlier oil prices, analysts said including MSI Director Tim Smith. Read more at S&P Global
Reduced port congestion due to global taming of Covid-19 may lead to a weaker market for dry bulk shipping, according to a market watcher.
The pandemic caused supply chain disruption worldwide for the better part of two years that resulted in bulkers sitting at anchor while waiting days and weeks for available berths. Read more at TradeWinds