Shipping finance markets for the rest of 2023 look positive, with a depth of lenders, banks, leasing houses and alternative credit funds all seeking to grow their portfolios and offer the best terms to win projects.
Smaller Bulkers have led bulker sale and purchase transactions so far this year, with a share of over half of all secondhand deals according to VesselsValue. Handy Bulkers made up the majority, accounting for c.31% of sales, and Supramaxes followed at c.25%. The average age of vessels sold in these categories are 13YO and 14YO respectively.
A new report from Lloyd’s Register (LR) and maritime innovation consultancy Thetius advocates investment to improve the understanding of AI at all levels within maritime organisations and outlines the value of including AI and Autonomy at board level, alongside workforce education and training to raise awareness of safety and regulations of advanced technology.
Capesize freight rates are set for a period of upside volatility as the fallout from the war in Ukraine continues to spread across the energy markets.
The collaboration between ocean industries will need to intensify for the rapid buildout of offshore wind and aquaculture to coexist sustainably with other industries and the ecosystem.
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.
World Shipping news for the marine professional. Read maritime news online.