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.
With the shipping community gathering again for Posidonia, in this Analysis we profile the position of the Greek market and the pivotal role it continues to play in global shipping (16% (18%) of global tonnage by gt (dwt)). And with a backdrop of strong markets but building strategic challenges around fleet renewal, energy transition and geopolitics, there will be plenty to discuss and debate!
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.
Despite an easing of overall conditions (our ClarkSea Index averaged a healthy $24,119/day in 1H, down 38% y-o-y but still…
While global newbuild order volumes fell (20% y-o-y in CGT terms), 2022 was still an active year for the global…
