Left to right: Rachel Lawton of Mazars, WISTA UK Treasurer; Thomas Andersson of hosts Stena UK, Bridget Hogan of the Nautical Institute, WISTA UK Secretary and Torild Stokes and Katarina Bateson from Stena UK (Photo: WISTA UK)

'Solid Signs' of Restrained Fleet Expansion

!!!

There are "solid signs" of restrained fleet expansion, matching world seaborne trade growth more closely, although not in all sectors.
This was the message delivered by Richard Scott MA MCIT FICS, managing director of Bulk Shipping Analysis, at a recent meeting in London of WISTA UK (Women International Shipping and Trading Association). "Trade continues to grow and may even be accelerating from the historical growth levels of the last two years of 2-3 percent," he told the audience.
This compares with annual growth of just over 5 percent before the 2008 shipping market crash. Annual world trade carried by merchant ships in 2016 has been estimated at 11.1 billion metric tons, he continued. This is equivalent to 1.5 metric tons for every person on the planet.
Deadweight capacity of the world fleet is greatest in the dry bulk sector which makes up 43 percent of the fleet, with oil tankers at 31 percent, containerships 13 percent and liquid gas (LNG and LPG) carriers at 3 percent. The remaining tonnage is made up of other vessels such as ro-ros and reefers.
China continues to dominate trade growth, Scott explained, its contribution having risen from 5 percent of total world seaborne imports in 2000 to 20 percent in 2016. "A large part of world seaborne trade growth consists of additional Chinese imports," he said.
The trend for oil tanker charter rates continues down but he predicted some recovery soon, signs of which are already emerging, for the dry bulk and container sectors.
However, any growth in world trade in 2017 was still proving insufficient to absorb world fleet overcapacity. "Shipping investors tend to be over optimistic," Scott observed. "There are imbalances in many trades - especially in the bulk sector."
An Offshore Patrol Vessel, designed by Lürssen. Photo: Royal Australian Navy.

Australia Announces Offshore Patrol Vessel

The much awaited announcement for the replacement to the current Armidale Class patrol boats was announced by Prime Minister Malcolm Turnbull at Russell Offices in Canberra.

Left: Two 117m high-speed vehicle passenger ferries to be built by Austal for Fred Olsen SA of Spain (Image: Austal). Right: The 127m Benchijigua Express was the world’s first and largest trimaran hull vehicle passenger ferry, designed and built by Austal for Fred Olsen SA in 2005. (Image: Austal)

Austal Opens Up Trimaran Deal with Fred Olsen

Austal’s latest contract announcement for two 117 metre high speed vehicle passenger ferries, for Fred Olsen SA, not only sends a strong signal to the international market that

 The OOCL Scandinavia unveiled at the christening ceremony held at the SHI shipyard. Photo: Orient Overseas Container Line Limited

OOCL Scandinavia Unveiled

In Orient Overseas (International) Ltd (OOCL)’s series of six ‘G Class’ containerships on order at the Samsung Heavy Industry (SHI) shipyard, we are pleased to introduce the