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2024 Shipping Market Performance
In 2024, the global shipping market showed a dynamic and complex trend under the influence of multiple factors. Below is a summary of the shipping market performance in 2024, covering the key market trends, challenges, and industry development directions. 1. Global Shipping Demand Maintains Steady Growth In 2024, the global economy continued its recovery following the COVID-19 pandemic, gradually stabilizing despite some uncertainties. Shipping demand remained at a high level,...
World shipbuilding focuses on Chinese market- Marinetec China
After more than 40 years of development, China International Maritime Technology Academic Conference and Exhibition (Marintec China) has become one of the two most influential maritime conferences and exhibitions in the world.
From the perspective of the overall scale of exhibitions, China International Maritime Exhibition has surpassed Hamburg Maritime Exhibition in Germany for two consecutive years and ranked first in the world.
Prices of new container ships increased by more than 50% year-on-year （2024）
Container newbuilding values are currently at an all-time high.
The value of 15,000 TEU Panamax newbuildings has continued to rise since the beginning of the year and currently stands at US$210.5 million, compared with US$158.52 million in the same period last year, an increase of approximately 33% year-on-year.
Rates for 7,000 TEU Post-Panamax vessels exceeded the record set in 2010 earlier this year and have continued to rise since then.
Currently, the value of new Panamax ships is US$114.7 million, an increase of approximately 32% from US$87.03 million last year. The cost of new shipbuilding has increased due to increased demand, limited supply from shipyards, rising material costs, and competition from other ship types for existing ship slots.
EU Maritime Fuel Regulation
From January 1, 2025, the European Union will raise its greenhouse gas emissions standards.
As part of Europe's broader strategy to reduce its dependence on fossil fuels, the upcoming 《Fuel EU》regulation focuses on fuel choice. Compliance mechanisms will also require the further integration of data and digital technologies into maritime trade.
Shipping companies (and more specifically, entities with responsibility for the ISM Code) must start reporting EU voyage data and GHG emissions, including CO2, hydrocarbons CH4 and nitrogen oxides N20 for all ships above 5,000 GT.