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 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…
In our 2022 review, we profile another remarkable year for the shipping industry, with a record breaking ClarkSea Index (up…
