Shipping industry’s $188 billion binge cuts space to make new vessels

Quick Summary:

The surge is fueled by global trade expansion despite economic challenges.

Major shipyards are full, prioritizing high-margin container and gas ships over bulk carriers.

More than a quarter of those are for LPG and ammonia carriers, and the company is seeking value-added products like gas ships or green-energy vessels rather than bulk carriers or oil tankers that generate lower margins.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: IndiaChinaJapanSouth KoreaUkraine

Topics: Shipping industry growth New vessel orders Shipping Shipbuilding capacity Global trade expansion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-25 @ 09:51:35 (2 days ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1421 words

Reading Time: 8 minutes read

Sentences: 37 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 24658135

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 5 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 22 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #84

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