Ordering of alternative fuel capable ships rose to a record level in 2024, and accounted for 50% of all tonnage contracted. Drilling down into the data, there have been a range of trends apparent in fuel choices, with LNG seeing the greatest adoption (orders in GT more than doubled y-o-y in 2024), while methanol uptake eased (down 17% in 2024), though there has been variation across sectors.

At the start of 2024, the shipping industry saw a milestone development in the extension of the EU Emissions Trading Scheme (ETS) to maritime, placing a price on carbon emissions for the first time. And in just a few weeks’ time, another EU regulation will come into force, with FuelEU Maritime establishing a regulatory framework around the transition to less GHG-intensive marine fuels.

Our latest update of Fuelling Transition continues our framework for monitoring the huge regulatory, technological and investment challenges facing stakeholders across maritime

Global shipping’s vital “Green Transition” requires major investment in ships and vessel technology, but facilities (and operations) at ports, terminals and berths are also crucial. Tracking the uptake of green technologies on vessels is now in regular focus, but here we take a look at statistics tracking the progress in terms of investment in “green facilities” at the world’s ports.

With the world shipping fleet’s vital “Fuelling Transition” underway, much attention has focussed on the ordering of alternative fuel capable ships (~50% of today’s orderbook by tonnage). However, in terms of progress towards GHG emissions targets, other trends in the fleet, including improved vessel fuel efficiency and the fitting of energy saving technologies, make an important contribution too.

Shipping’s ‘Fuelling Transition’ remains highly in focus, with uptake of alternative fuels a key element. Recent years have seen increased traction, with more than 40% of newbuild tonnage ordered at shipyards since start 2023 alternative fuel capable, with growing adoption across shipping sectors and with a range of fuelling options making headway.

Our latest update of Fuelling Transition continues our framework for monitoring the huge regulatory, technological and investment challenges facing stakeholders across maritime

In this week’s Analysis, we review shipping fleet progress against “green” metrics covered in our regular reporting. From our analysis of shipping’s overall CO2 contribution to our tracking of CII and data points for alternative fuel uptake, Energy Saving Technologies (ESTs), age, fleet renewal ratios and ship speeds, progress varies in the early stages of shipping’s decarbonisation journey.

Our latest update of Fuelling Transition continues our framework for monitoring the huge regulatory, technological and investment challenges facing stakeholders across maritime as they plan for the vital Green Transition.

Shipping’s ‘Fuelling Transition’ is underway with a significant 45% of all tonnage contracted in the year to date alternative fuel capable. With the different shipping sectors progressing at different paces, we take a closer look at the evolving trends and recent milestones in alternative fuel capable ordering this year.

Next week, the 35th Nor-Shipping trade exhibition returns to its traditional summer slot. Like most maritime gatherings today, there will be plenty of green focus including a first dedicated offshore wind seminar. In this week’s Analysis, we update some of our data points tracking shipping’s Green Transition, hopefully providing helpful context for discussions in Oslo.

Our latest update of Fuelling Transition continues our framework for monitoring the huge regulatory, technological and investment challenges facing stakeholders across maritime as they plan for the vital Green Transition.

The introduction of new IMO emissions regulations at the start of 2023 represents a significant milestone in the shipping industry's decarbonisation pathway. The regulations look set to have a wide range of impacts, across emissions, investment decisions and market supply/demand dynamics, but will likely take time to evolve. This Impact Assessment provides a scenario framework for understanding the potential impacts on shipping supply.

This year’s entry into force of the IMO’s “short term” 2030 measures (EEXI, CII) is a hugely significant milestone in shipping’s vital decarbonisation pathway (shipping contributes 2.3% & 855mt of CO2 ). Even if the impact (be it on emissions, investment decisions or market supply / demand) will take time to evolve, for the first time the world fleet is subject to a global regulatory framework on CO2 . 

With a record share of newbuild orders in Q1 alternative fuelled, this week’s Analysis, extracted from our upcoming Fuelling Transition report, tracks progress in the shipping industry’s vital decarbonisation journey. While the unprecedented technology shift, fleet renewal, investment and policy framework needed will take decades to implement, there are already material fleet changes and market impacts to track.

The uptake of alternative fuels on the global orderbook has been on an upwards trajectory over recent years, with 34% of tonnage on order now set to use alternative fuels upon delivery. LNG is the most popular option today, although other ‘low carbon’ and ‘zero carbon’ fuels are gaining traction, with notable new orders this year, alongside ongoing research and development.

The 6th update of our Fuelling Transition series, released in late 2021 and including new analysis and data on potential EEXI & CII impacts, CO2 emissions trading schemes (ETS) and voluntary offsets, alternative fuels, energy saving technologies (ESTs) and investment scenarios.

With the shipping industry set to embark on an unprecedented programme of investment and fleet renewal as part of efforts to cut emissions, we have been profiling the uptake to date of Alternative Fuels, ESTs, ‘Eco’ engines, scrubbers and port facilities across the major shipping sectors. Here we drill down on the tanker sector, where there are recent signs of progress, albeit with a long way to go...

As the shipping industry embarks upon an unprecedented programme of investment and fleet renewal in order to meet emissions targets, it is clear that the bulker sector (35% of global fleet tonnage) will be a key part of the industry’s progress. After a gradual start (see SIW 1,452 for boxship sector comparison), there are signs that progress is picking up in the bulker sector, but there remains much to do...

With shipping at the start of a unprecedented investment program around fleet renewal and shoreside infrastructure to deal with emissions reduction, SIW 1,450 profiled important progress so far in the uptake of Alternative Fuels, ESTs, “Eco” engines, scrubbers and port facilities. This week we drill down on progress in container shipping, a sector already often subject to a greater degree of consumer scrutiny.

Shipping markets remain in positive territory, with our cross-sector ClarkSea averaging $22,566/day through late March, 17% up on the 10 year trend. There are softer conditions in some segments and heightened geo-political uncertainties. And shipping today is at the ‘frontline’ of many geo-political dynamics, with governments (including in the US) increasingly viewing shipping strategically.

An update on the latest USTR proposals in relation to Chinese vessels and shipbuilding, including details of the proposed measures, a range of context statistics and initial discussion around potential impacts.

As the world’s most populous country and fifth largest economy, India holds a growing role on the global stage. Within parts of the maritime ecosystem, development has been mixed, lagging potential. But as a key hub for operations and crewing, and now the largest seaborne importer after China, ambitions to further develop fleet, ports & shipbuilding have renewed government support.

A summary of the recently proposed SHIPS for America Act, which aims to increase the role of the US flagged fleet in international trade and strengthen the US's role in shipbuilding. The proposal comes against the backdrop of the US Trade Representative's recent investigation into Chinese maritime and shipbuilding practises.

LPG carrier newbuild ordering saw a second consecutive record year in 2024, with 9.9m cbm contracted, following on from 8.0m cbm ordered in 2023. Newbuild appetite was strong across a range of sub-sectors, with demand for VLACs and VLECs particularly strong. Here we take a look at firm LPG carrier newbuild ordering trends through 2024.

The bulkcarrier supply backdrop remains more ‘modest’ than in many other shipping sectors, but a steady flow of ordering in recent years has nonetheless led to expectations for continued moderate fleet expansion ahead. Against a backdrop of potentially maturing trends in demand growth in some dry bulk segments, the outlook for bulkcarrier supply growth is again in focus…

2024 was a remarkable year for containership newbuild contracting, with an acceleration in alternative fuel uptake driving a sharp increase in total capacity ordered, which came close to eclipsing the all-time record set in 2021. In this month’s Container Commentary, we take a closer look at the key trends and drivers from an exceptional year in the containership newbuild market...

With the largest order intake in 17 years, 2024 was an incredibly active year for the global shipbuilding industry with contracts totalling 66m CGT and $204bn placed. Container (4.4m TEU of orders), gas (25.9m cbm) and tankers (53.9m dwt) were the “stand out” segments while China consolidated its lead position, taking two thirds of orders, and is the only major producer expanding capacity.

2024 has been an outstanding year for newbuild contracting, with volumes on track to reach the highest annual total since 2007. Notably, volumes this year have been supported by firm cross-sector newbuild demand, with contracting across most shipping segments running significantly above the 10 year average. Here we review the trends and key drivers behind this.

As the year draws to a close, volume totals show that 2024 has been a busy year for shipping’s asset markets. Despite a slower second half compared to the first half of the year, and notably limited recycling, strong newbuild and secondhand volumes have made 2024 a highly active year. Here we review some of the key statistics and put them into context.

There has been a strong flow of newbuild contracting across 2024, with the surge in containership ordering grabbing the headlines recently (>3m TEU ordered over the past six months). However, newbuild ordering in the ‘energy shipping’ sectors has also been ‘hot’, with tonnage investment rising to an 18-year high this year.

After one of the most dramatic and volatile US elections of recent history, we at least have one uncertainty resolved. While too early to separate campaign rhetoric from feasible future policy, in this week’s Analysis we initiate our impact assessment framework for potential changes in tariffs, economic policy and geopolitics from next year’s incoming US administration.

It is often said that shipping is a highly fragmented industry in terms of the sheer volume of vessel owning companies making up the world fleet. However an examination of today’s orderbook shows that investment in newbuilds is much more concentrated, and in particular that ordering of alternative fuel ships is especially consolidated with a smaller number of owners leading investment.

Tanker newbuilding activity has been strong again this year, with support from an extended period of firm market conditions and a positive outlook. Contracting appetite remains healthy in both the crude and products sectors, though with variation across the vessel sizes. Here, we take a closer look at the trends in tanker newbuilding market activity in 2024 so far.

A strong earnings environment persists across much of shipping, with our cross-sector ClarkSea Index averaging $25,584/day in 2024 (+10% y-o-y and +35% on the 10-year trend). Underlying trade volume growth, with disruption to trade patterns amplifying shipping demand, remains supportive as do supply side constraints from low orderbooks in some sectors and a “tight” shipbuilding market.

Over 40,000 industry participants will soon gather in Hamburg for the biannual SMM trade fair, a key event for yards and suppliers. In this week’s Analysis, we chart market developments since the last SMM and at key points over the long term market cycle. Alongside a strong flow of newbuild orders and good retrofit demand, “managing disruption” and “going green” remaining key themes today.

After a slow start to the year, containership newbuild contracting has been running ‘hot’ in recent months, with major orders being confirmed and reports circulating that further large orders may still emerge. Here we take a closer look at activity reported so far this year, with the latest trends including increased involvement from charter owners and sizeable interest in LNG fuelled vessels...

It has been a half year of robust cross-market strength for the shipping industry, with our ClarkSea Index up 6% y-o-y ($25,498/day, 43% above the ten year trend) and the bulkcarrier and container sectors joining “energy” shipping in positive territory. Underlying volume growth and major disruption to trade patterns have again been supportive, alongside supply constraints in some key markets.

After a decade of declining output, shipyard production has begun to edge up in recent years with deliveries in Q1 reaching a seven year quarterly high (10.1m CGT). Our projection for full year 2024 suggests a 15% y-o-y increase to ~40.6m CGT, although with a near term product mix dominated by gas carriers and containerships, the outlook varies by tonnage unit.

Shipping’s ‘Fuelling Transition’ remains highly in focus, with uptake of alternative fuels a key element. Recent years have seen increased traction, with more than 40% of newbuild tonnage ordered at shipyards since start 2023 alternative fuel capable, with growing adoption across shipping sectors and with a range of fuelling options making headway.

ClassNK, DNV and BV have granted AiPs to LCO2, Ammonia, Ethane and Bulk carrier vessel designs.

Two Ro-Ro vessels to be retrofitted to battery-hybrid propulsion along with Flettner rotors and other EST’s.

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

Norsepower to equip two general cargo vessels with four Flettner rotors.

Value Maritime to retrofit CCS system on a Samskip operated LNG DF Ro-Ro Cargo Ship.

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

Five Medium Range tankers to be retrofitted with 20 Suction Wings.

The latest update on green technology and policy in Asia

First completed Wind EST retrofit on a Gas Carrier.

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

The latest update on green technology and policy in Asia

Five containerships to be retrofitted with 'LGIM' Methanol Dual Fuel engines.

'Coastal Liberty' retrofitted with hydrogen fuel cells and batteries.

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

A further update in our recent briefing series providing monitoring, data points and understanding of potential market impacts of the recent disruption in the Red Sea on global trade and individual shipping segments.

Attacks on vessels transiting the Red Sea have escalated over recent weeks, leading a number of shipping companies to 'pause' transits through the region. This could lead to vessels diverting to significantly longer routes and support shipping market upside. Here we summarise developments so far.

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data

The latest update on key shipbuilding news and data