“We expect to see the tide turn on scrapping volumes this year with 2023 already starting off at a steady pace,” predicted Dr Adam Kent, MSI’s managing director. This is primarily driven by containership and dry bulk removals. Read more at SplashExtra
Tag: LNG
Eco shock: green fuels will not beat fossil fuels on price until 2040, MSI warns
“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.
Repair yards and offshore wind make for sound investments
The industry is set for one of the most dynamic periods it has ever witnessed during the remainder of the decade as it grapples with decarbonisation, the energy transition, geopolitical ramifications and the further maturing of the Chinese economy. Read more in TradeWinds
LNG: Tight market to support strong carrier rates
“After an extraordinary 2022, where we have seen record charter rates and record orders for new LNG ships (despite rapidly rising newbuilding prices), I’m expecting a calmer LNG shipping market in 2023,” said MSI’s senior analyst Andrew Buckland. Read more at LloydsList
Entering a recession in the LNG carrier market… “The volume of orders is likely to decrease over the next 10 years.”
A warning has been issued to the global shipbuilding industry that liquefied natural gas (LNG) carrier orders will be sluggish in the next decade due to the rapid increase in newbuilding deliveries, based on MSI analysis. Read more at theguru
Warning of mid-decade LNG shipping slump from newbuild delivery surge
LNG shipping is booming and shipyard capacity is extremely tight, but as new tonnage hits the water mid-decade it could outstrip liquefaction capacity growth heading to a market slump warns MSI. Read more at Seatrade-maritime.com
UN warns of muted maritime trade growth through to 2027
UNCTAD’s latest seaborne review has some forecasts to shock shipowners. Adam Kent, MSI’s Managing Director, comments on UNCTAD’s latest numbers placing them in context. Read more at Splash247.com
LNG spot rates take a dive
Spot rates fall from unprecedented heights as more ships are being released into the market.
Some of the floating storage off Europe is beginning to unwind, while the restart of the Freeport terminal in the US, which suffered an explosion and outage earlier in the year, has been pushed back, freeing up ships, said MSI’s gas analyst Andrew Buckland. Read more at LloydsList
Shipyards look to plug the gap as two-horse newbuilding race runs its course
Shipyards banking on a decarbonisation-driven order boom must contend with present day realities, writes MSI Director Stuart Nicoll. Read more in Splash247.com
Oodles of new LNG carriers but where are the supply trains?
Concerns about insufficient shipbuilding capacity for LNG carriers would be better redirected to liquefaction capacity. More than 200 large LNG carriers have been ordered since April 2021 at increasingly expensive prices, but investment in new LNG supply is not keeping pace. Read MSI’s Senior Gas Analysts opinions of the LNG market in TradeWinds.