SHIP demolitions have remained low key in the past few years resulting in a global merchant fleet that will get older and older, something charterers, operators and owners will have to accept as the new normal.
A substantial portion of today's vessels will be over two decades old in the coming years, according to a new report from Greece's Xclusiv Shipbrokers.
'This ageing fleet presents a multitude of concerns, from operational efficiency to environmental sustainability,' Xclusiv researchers wrote in their latest weekly report, 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.
In the bulker segment, nearly 30 per cent of the current fleet, both in terms of vessels and deadweight tonnage, will be over 20 years old by 2030, Xclusiv data shows with larger ships showing the greatest ageing.
The tanker fleet is also experiencing a similar ageing process. Approximately 48 per cent of today's tanker fleet in dwt terms will be over 21 years old in 2030.
The container and gas fleets are not immune to this ageing trend either despite tremendous ordering in both sectors this decade, reports Singapore's Splash 247.
In the gas carrier segment, approximately 42 per cent of the fleet will be over 21 years old in 2030.
In 2030, 49 per cent of today's container fleet, in terms of vessels and TEU, will be over 21 years old, according to Xclusiv.
Container analysts at Alphaliner note that today, the top ten container lines still operate 683 vessels aged 20 years or older, representing a capacity of more than 2.6 million TEU.
Assuming 25 years as the normal commercial lifespan of a sea-going cargo vessel, these numbers suggest that the top ten operators could, between them, use 44 per cent of their combined orderbook just to replace the oldest ships in service, rather than for growth.
Risk management platform RightShip recently announced a change in its vessel inspection age trigger for the ageing dry bulk and general cargo sectors.
Citing 'evolving market conditions and continuing safety risks', RightShip announced the age trigger for the inspection of dry bulk and general cargo vessels will change from 14 to 10 years.
'As we navigate the challenges associated with an ageing fleet, we must collectively strive for safety and transparency across the shipping industry,' said Steen Lund, CEO of RightShip.
SeaNews Turkey
A substantial portion of today's vessels will be over two decades old in the coming years, according to a new report from Greece's Xclusiv Shipbrokers.
'This ageing fleet presents a multitude of concerns, from operational efficiency to environmental sustainability,' Xclusiv researchers wrote in their latest weekly report, 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.
In the bulker segment, nearly 30 per cent of the current fleet, both in terms of vessels and deadweight tonnage, will be over 20 years old by 2030, Xclusiv data shows with larger ships showing the greatest ageing.
The tanker fleet is also experiencing a similar ageing process. Approximately 48 per cent of today's tanker fleet in dwt terms will be over 21 years old in 2030.
The container and gas fleets are not immune to this ageing trend either despite tremendous ordering in both sectors this decade, reports Singapore's Splash 247.
In the gas carrier segment, approximately 42 per cent of the fleet will be over 21 years old in 2030.
In 2030, 49 per cent of today's container fleet, in terms of vessels and TEU, will be over 21 years old, according to Xclusiv.
Container analysts at Alphaliner note that today, the top ten container lines still operate 683 vessels aged 20 years or older, representing a capacity of more than 2.6 million TEU.
Assuming 25 years as the normal commercial lifespan of a sea-going cargo vessel, these numbers suggest that the top ten operators could, between them, use 44 per cent of their combined orderbook just to replace the oldest ships in service, rather than for growth.
Risk management platform RightShip recently announced a change in its vessel inspection age trigger for the ageing dry bulk and general cargo sectors.
Citing 'evolving market conditions and continuing safety risks', RightShip announced the age trigger for the inspection of dry bulk and general cargo vessels will change from 14 to 10 years.
'As we navigate the challenges associated with an ageing fleet, we must collectively strive for safety and transparency across the shipping industry,' said Steen Lund, CEO of RightShip.
SeaNews Turkey
