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.
Consultancy and research company Maritime Strategies International concluded that in 2022 and 2023, newbuilding contracting massively exceeded underlying replacement and incremental demand growth requirements.
“After the container-boosted wonder year of 2021, we anticipated contracting would ease back in 2022 and 2023. It now looks like around 137m gross tonnes was ordered over the two years, with huge investment in container ships, LNG carriers and car carriers,” said MSI director Stuart Nicoll. Read more at TradeWinds
LNG bunker price expected to start trading at a substantial discount to low-sulphur fuel from 2024, helping create a premium for charter ships burning the fuel. For dual-fuel methanol ships, the picture is less clear even with shipping included into the EU ETS, as the price for green methanol would be significantly higher, according to MSI. Read more at Lloydslist
The shipping industry has faced new challenges over the past 12 months due to higher funding costs following the rise in interest rates.
MSI’s Managing Director, Dr Adam Kent, contributes his thoughts on the topic in an article published by Naftemporiki
MSI Director, James Frew, talks to The Maritime Podcast and puts the spotlight on the outlook for the shipping markets and shipbuilding, including the developing orderbook, alternative fuels and new ship types. Listen to the podcast here Seatrade Maritime
Decarbonisation programmes set by the International Maritime Organization (IMO), shipping’s regulatory body, will be one of the most difficult tasks for the industry in the coming years. This starts with the implementation of the EEXI, and CII criteria, all of which aim to reduce carbon intensity and will impact prices of the existing fleet. The first phase begins in January 2023. Read more in Splash Extra
A restart to full operations can’t come soon enough for cruise lines, whose financial position has become increasingly precarious given high debt levels incurred from fleet expansions and the fund raising required to survive the current crisis, Maritime Strategies International (MSI) said in a report. Read more here
Cruising’s restart can’t come soon enough for an industry that has effectively been closed for business during the last 15 months, says Niklas Carlen, Director, Maritime Strategies International(MSI). Read more in Seatrade Cruise
According to a report from the research consultancy Maritime Strategies International, only 7.5m people took cruises in 2020, compared with almost 30m in 2019. MSI said that it expected 11.9m people to take a cruise this year. Read more in the Financial Times
