Shipping adopts cleaner and environmental modes of transportation

We are experiencing a transition period for the shipping market which is affected by the climate crisis and the pandemic and therefore all parties involved especially the leading marine managers and the financiers have to work together to face the challenges of the market.
No one knows what ships will be required in 20-30 years and owners should not rush to take any decision in selecting one type of future ship.
Charterers and operators tend to take long term forward positions and this means that the dry bulk market will stay healthy in the next years.
The tanker market will gradually pick up because of the historical low levels in regards to the newbuilding order book and the gradually increasing demand for oil products.
It is reminded that the supply side of the dry bulk equation has not been so good for a decade and owners are hesitant to order because of the new fuel debate.
However, demand seems to be strong despite COVID-19 and seems to be the start of a new super cycle.

Full article, ELNAVI November 2021, Issue 575, Page. 6
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