The 30th JECK Was Held As Scheduled

Recently, the 30th Japan-Europe, China-Korea Shipbuilding Enterprises Summit (JECK TEM) was held as scheduled. More than 100 leaders of major shipbuilding companies and industry experts from China, South Korea, Japan, and Europe gathered together to analyze the development situation of the global maritime industry and discuss the future development of the global shipbuilding industry.

The meeting discussed market segments of each ship type:

——In terms of the oil tanker market: Economic recovery supports the demand for shipping of crude oil and refined oil products. Changes in trade structure have increased shipping volume and distance. The aging of the fleet and emission reduction rules have accelerated fleet renewal. The future of the oil tanker market is generally optimistic and we will continue to remain optimistic. development momentum.

——Bulk carrier market: Due to demand saturation and the impact of environmental regulations, the demand for iron ore and coal is expected to be flat and gradually decline; grain and small bulk cargo are expected to be driven by the growth of the world's population and the development of the global economy. Strong demand from emerging countries. These will support the stability of the bulk carrier market.

——Container ship market: The detour of ships due to the Red Sea crisis has pushed up freight rates again, expanded shipping distances, made use of a large amount of newly delivered shipping capacity, and supported the continued boom of the container ship market.

——LNG carrier market: Global demand for LNG will continue to grow, and it is expected that more than 6 million tons of LNG will be traded every year after 2030. Although there are more than 380 LNG carriers under construction, LNG supply and receiving infrastructure will continue to maintain strong momentum, combined with the need to replace older ships, which will support the LNG carrier market to continue to remain positive.

——Cruise market: Passenger throughput has returned to pre-epidemic levels, but is still lower than historical growth expectations. The economic recovery in North America and Europe has been strong and rapid, but many cruise lines still carry large debt burdens. The cost of new shipbuilding has increased significantly. The development and investment of large cruise ships requires joint efforts between cruise companies and shipyards. Uncertainty still exists in the cruise market.

——Offshore engineering ship (equipment) market: Supported by oil prices and the offshore oil and gas investment environment, the market continues to improve, with the total number of offshore new construction/conversion contracts increasing by 43% year-on-year. In the future, OSV is expected to continue to gradually increase at a moderate rate, and the MOPU market outlook will remain optimistic.

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