With the ClarkSea Index averaging $24,964/day (+6% y-o-y, +30% ten year trend), a strong earnings environment persisted across 2024 as the shipping industry managed disruption and complexities across the world’s supply chains. And despite an easing of rates and S&P prices in some markets in Q4, underlying fleet renewal helped drive the most active newbuild market since 2007.
Clarksons Research have today released their latest Green Technology Tracker, including full year 2024 data points, charting the progress of alternative fuel uptake and investments in energy saving technologies across the global shipping fleet.
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.
At the end of August, the focus of the offshore industry will be on Stavanger, for Offshore Northern Seas (ONS) 2024. The biannual event this year occurs as offshore markets have emerged from the lean times of the later 2010s into a record upturn. Here we look at how the market has changed over the last two decades and also the energy security and energy transition challenges ahead.
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.
