Br8 Shipping’s Post

🚢 Greek Shipowners Continue to Dominate Newbuilding Orders in 2024 💼 Greek shipowners have maintained a significant presence in the 2024 newbuilding market, closely following 2023’s record levels. Greek owners ordered 171 vessels between January and August 2024, slightly down from 182 orders last year. This decline is due to a drop in bulk carrier contracts despite a rise in gas and container vessel orders. 📉 Greek investments in gas carriers jumped 158%, with a focus on very large ammonia carriers (VLACs). 🛳️ While tankers remain steady, Greeks are capitalizing on the growing demand for modern, fuel-efficient vessels. The global shipping landscape continues to evolve, and Greece remains at the forefront. 🌍⚓ #Shipping #Newbuilding #GreekShipowners #Maritime #Innovation #GasCarriers

In a groundbreaking move, Eastern Pacific Shipping Pte. Ltd. is boldly positioning itself as an industry trailblazer, investing heavily in sustainable shipping with more than 100 vessels worth in excess of $8bn on order, including #containerships, #PCTC, #VLACs, suezmax #tankers, newcastlemax #bulkers and #LNGcarriers. The company's recent venture with Xiamen Shipbuilding, commissioning four additional #LNG dual-fuel LR2 #productcarriers for delivery in 2028, is a testament to their forward-thinking approach. . . With a #vision of controlling a 50-vessel product fleet and an already impressive lineup of several LR2 & MR tankers on order , Eastern Pacific is sending a clear message that it's committed to decarbonization and leading the way for the future of shipping. The #decarbonization efforts date back to 2018, when it signed one of the world’s first orders for an LNG dual-fuel boxship. As the world moves towards #greener solutions, EPS sets a powerful precedent for the #shipping #industry, demonstrating that #sustainability and growth can go hand in hand. This expansion is not just about fleet size but about paving the way for a sustainable #future in #globalshipping. For more insights, pls refer to the link: https://lnkd.in/ermPrjXc

The recent report mentions that the remainder of the 2020s will be marked by a global merchant fleet that will get older and older, something charterers, operators and owners will have to accept as the new normal, especially if demolition volumes remain as muted as they have been in the past few years. If so, then this ageing fleet presents a multitude of concerns, from operational efficiency to environmental sustainability, questioning how much of the global merchant fleet will be able to meet green targets set for 2030 laid out by the International Maritime Organization. Eg. 1. In the bulker segment, nearly 30% of the current fleet, both in terms of vessels and deadweight tonnage, will be over 20 years old by 2030. 2. The tanker fleet is also experiencing a similar ageing process. Approximately 48% of today’s tanker fleet in dwt terms will be over 21 years old in 2030. 3. In the gas carrier segment, approximately 42% of the fleet will be over 21 years old in 2030. 4. In 2030, 49% of today’s container fleet, in terms of vessels and teu, will be over 21 years old Add- Citing “evolving market conditions and continuing safety risks”, major player announced the age trigger for the inspection of dry bulk and general cargo vessels will change from 14 to 10 years. The positive side is that major players in the market have started investing in green fuels and zero-emission alternatives, which could help offset the discrepancies mentioned above. #VesselEfficiency #IMOTargets #ZeroEmission #GreenFuels #MEPC

🚢 Strategic Bunkering: Optimizing Fuel Efficiency and Cost for Maritime Operations 🌊 In the dynamic world of maritime logistics, effective bunkering is pivotal for operational efficiency and cost management. Here’s why: Precision in Fuel Planning: By meticulously calculating the distance and analyzing a vessel's fuel consumption using detailed consumption tables, we ensure accurate fuel requirements for each voyage. This minimizes the risk of fuel shortages and optimizes bunker capacity. Cost-Effective Bunkering Decisions: Comparing bunker prices and services from various suppliers at both origin and destination ports allows us to secure the best deals. Evaluating the price differences helps in deciding whether to bunker at the origin or destination, considering the fuel consumed during sailing. Anchorage and Maneuvering Considerations: Planning bunkering at berth involves careful timing. By estimating the vessel's anchorage time and maneuvering duration, we can align bunkering activities to minimize delays and ensure seamless operations. Supplier Selection: Beyond price, assessing the reliability and quality of bunker suppliers is crucial. By selecting reputable suppliers, we ensure the vessel receives high-quality fuel, enhancing engine performance and longevity. In essence, strategic bunkering involves a blend of accurate distance and consumption calculations, thorough supplier price comparisons, and efficient operational planning. This comprehensive approach not only reduces fuel costs but also enhances the overall efficiency of maritime operations. #MaritimeLogistics #Bunkering #FuelEfficiency #SupplyChainManagement #MaritimeOperations

There are several important steps to take when growing a shipping company. Here are some key point's 👍

Here is what many people on the BCO side don't know: responding to air & ocean tenders is often a daunting task because of the tender complexity, the lack of standardisation, the multitude of platforms being used, the amount of pricing people involved on the forwarder side and the continuously changing rates. Most forwarders have a manual set-up to handle this. But if you participate in more than 30 RFQs per year we recommend that you use our Tender Response Platform, specifically designed to make this tender management process highly efficient. #forwarding #pricing #rates #ocean #aircargo

📣 Splash Maritime and Offshore News (splash247.com): "44% of record global liner orderbook is replacement tonnage. Analysts at Alphaliner have identified just how much of the ships on order are needed as fleet replacement with Maersk notably behind its peers when it comes to rejuvenating its ageing fleet. While the global container fleet will grow significantly in the years ahead, Alphaliner data does show that nearly half of the ships on order among the big 10 liners will actually be replacement tonnage." 📰 Read the full article by Splash247 at https://bit.ly/4dOR4Xm. 👈

Here is what many people on the BCO side don't know: responding to air & ocean tenders is often a daunting task because of the tender complexity, the lack of standardisation, the multitude of platforms being used, the amount of pricing people involved on the forwarder side and the continuously changing rates. Most forwarders have a manual set-up to handle this. But if you participate in more than 30 RFQs per year we recommend that you use our Tender Response Platform, specifically designed to make this tender management process highly efficient. #forwarding #pricing #rates #ocean #aircargo

‘Compelling’ tanker orderbook augurs well for rates through to 2026 The “compelling” tanker orderbook augurs well for freight rates for the coming couple of years, according to multiple researchers. The tanker sector has one of the lowest extant fleet to orderbook ratios, and a minuscule delivery schedule. According to data from Greece’s Xclusiv Shipbrokers tanker fleet growth will be just 0.02% in 2024, 1.7% next year and 1.8% in 2026. Importantly, too, Arctic notes that the average age of the tanker sector has not been higher since 2003. Another Greek broker, Intermodal, sees the crude tanker fleet capacity growing modestly by 0.6% in 2024 and 1.1% in 2025, with the aframax and suezmax segments leading this expansion. Product tanker fleet capacity is predicted by Intermodal to increase by 1.8% in 2024 and significantly by 4.3% in 2025, with the LR2s and MRs segments being the fastest growing. Regarding the demand and supply dynamics, Intermodal sees the crude tanker market tightening across both 2024 and 2025, attributed to slow fleet growth and increased sailing distances. In contrast, the product tanker market is forecast by Intermodal to experience a tightening in 2024, followed by a weakening in 2025 as fleet growth outpaces demand. #tanker #vessel #aframax #suezmax

This is what happen when a lost container is found in the sea ... According to the World Shipping Council (WSC), an average of 1,382 shipping containers are lost at sea each year. This figure is based on three-year rolling averages calculated over a 12-year period, representing approximately 80% of the global vessel container capacity, up until 2019. Over the 15-year period from 2008 to 2022, the average number of containers lost at sea each year was 1,566. In 2022, the number of containers lost at sea fell significantly to just 661, marking the lowest loss rate since the WSC began surveying in 2008. The liner shipping industry continues to work with governments and stakeholders to minimize container losses at sea, striving to enhance container safety through initiatives like the MARIN Top Tier project and advocating for mandatory reporting of lost containers. While the 661 containers lost in 2022 represent a tiny fraction (0.00048%) of the estimated 250 million containers shipped annually, the industry remains committed to further reducing these losses. #sea #container #containers #sea #ocean #lost #lostcontainers #liner #vessel #ship #ships