Global fleet growth slowest in a decade at 3%

Global fleet growth slowest in a decade at 3%

Global fleet growth slowest in a decade at 3% Shipping fleets across the globe expanded by 3.1% in the past 12 months, the slowest since the early 2000s, according to Clarksons Research.

The industry monitor attributes the slowdown to limited contracting and lower delivery volumes, combined with sustained demolition levels and non-delivery, with fleet expansion now appearing “to be returning to its ‘pre-boom’ levels.”

Between 2005 and 2012, annual fleet growth hit an average of 7.2% with 484 million gross tons ordered between 2005 and 2008.

Newbuild contracting volumes fell to new lows since the 1980s as well, with just 16 million gross tons contracted in the year to date, Clarksons reported.

“There has been a notable slowdown in the pace of growth since the end of the fleet’s big surge. Today, recycling activity is strong, deliveries look set to slow and contracting levels are at their lowest in over 30 years,” Clarksons said.
 

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