The first two months of 2023 have seen tanker market fortunes change rapidly, illustrating the volatility and upside that continues to persist as global trade patterns are reshaped.

As one of the most important strategic maritime passages in the world, linking the Indian and Pacific Oceans, the Straits of Malacca and Singapore are already carrying more than 100,000 vessel movements per year.

ABB is pleased to announce the release of the 2022 edition of Generations, presenting the business perspectives, ambitions and success stories of a diverse group of industry thought leaders and pioneers alongside in-depth technical insight from ABB’s in-house experts.

Will autonomous vessels dominate the oceans? Can artificial intelligence design an optimized offshore asset? Is nuclear power the ultimate energy source of the future?

A survey of shipowners conducted by design and engineering consultancy, Houlder, has highlighted that reliance on ad hoc collaboration between ship owners, and between technology companies and owners, is currently a major barrier to the decarbonisation of shipping.

A report produced by Marine Capital Ltd, with the support of UMAS and Lloyd’s Register (LR), estimates that approximately £75bn of investment over the coming three decades will be required for the UK’s domestic maritime sector to transition to net zero.