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."
Mark III system's original design. Photo: GTT

GTT Bags Order for Three LNG Carriers, One Bunkering Vessel

GTT announces it has received several orders, since the beginning of the year, for the equipment of three LNG Carriers (LNGCs) and one bunkering vessel.

Philly Shipyard aerial view Photo: Philly Shipyard

Philly Shipyard Order Backlog Touches USD 187.7 mln

As of 31 December 2017, Philly Shipyard had an order backlog of USD 187.7 million. The contract with Matson (Hulls 029-030) provides for shipbuilding activity with delivery

Photo: Hoppe Singapore

Hoppe Singapore is Operational

As per January 1, 2018, Hoppe Singapore Pte. Ltd., a wholly owned subsidiary of the Hoppe Group headquartered in Hamburg, Germany, has opened. “The decision to set up Hoppe