Page 76 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2024

ON THE SEAFRONT

SOUTH KOREAN SHIPBUILDING CONTAINER SHIP DELIVERIES HIT
1-2% MILESTONE: 500 LNG CARRIERS IN NEW YTD RECORD OF 1M TEU
iron ore 30 YEARS “In 2023, 2.3 million TEU of container ship
shipment South Korea’s competitiveness in the interna- capacity was delivered, beating the former all-
growth is tional shipbuilding industry is based on its tech- time high by 37%. Year-to-date another record
expected in nologically advanced ships. In this context, the has been set as more than 1 million TEU has
2024. naming ceremony of “Orion Spirit” is an impor- already been delivered during the first four
tant milestone, as it is the 500th LNG carrier months of the year, an increase of nearly 80%
built in South Korea since 1994. compared to the previous record,” says Niels
Minister of Trade, Industry and Energy, Dukgeun Rasmussen, Chief Shipping Analyst at BIMCO.
Ahn, attended the ceremony held on 18 April at As ship recycling has so far only retired 19
Samsung Heavy Industries’ Geoje Shipyard. The smaller ships, the fleet has expanded by nearly
ship will be delivered to J.P. Morgan. 1 million TEU, a 3.5% increase compared to the
There are currently 680 LNG carriers worldwide, beginning of the year, adding to last year's fleet
75% of which have been built in South Korea. growth of 8.2%.
The Asian country secured all orders placed for “Due to record deliveries the orderbook has
LNG carriers and ammonia carriers in the first declined. However, as 1.8 million TEU has been
quarter of 2024, while the value of all orders contracted during 2023 and 2024, it has only
placed at South Korean shipyards in the same declined by 1 million TEU and now stands at
period amounted to approximately $13.6 billion. 6.1 million TEU, 21% of the current fleet size.
As a result, the orderbook’s share of the fleet
THE UK PROVIDES AN £8 MILLION is more than twice the size than it was before
FUNDING BOOST FOR AI TO MAKE the COVID pandemic and liner operators’ con-
BOATS SMARTER tracting spree began,” says Rasmussen.
Maritime Minister Lord Davies recently The orderbook contains 2 million TEU for deliv-
announced an £8 million funding boost to put ery in 2024 and delivery volumes for the year is
the UK at the forefront of cutting-edge maritime on target to exceed 3 million TEU, 30% higher
technology. From self-driving boats to stream- than last year’s record. In 2025, deliveries
lined port operations, the use of artificial intelli- should end just below 2 million TEU, the third
gence (AI) and other innovations will boost the highest deliveries in one year only exceeded in
economy and support coastal communities. 2023 and 2024.
The Smart Shipping Acceleration Fund will Despite this, deliveries are still some way off
kickstart feasibility studies to develop smart the record when seen in relation to the size of
shipping technologies such as AI, robotics, and the fleet. In 2024, we expect deliveries to reach
autonomous vessels. The winning projects will 11% of fleet capacity at the beginning of the
also require match funding – leveraging further year. That record was most recently beaten in
investment from the private sector. 2008 when deliveries made up 14% of the fleet.
Successful ports will be able to use AI to detect The record high ship deliveries were expected
safety hazards, optimise port activities and to create significant oversupply in the market
reduce their environmental footprint – making UK and, while this did impact the market in 2023,
waters safer, operations smoother and air cleaner. it appears that deliveries this year instead
Maritime Minister Lord Davies said: ‘’Using AI contribute to keeping global container trade
and cutting-edge technology to make boats moving.
smarter and transform port operations is part Due to the rerouting of ships via the Cape of
of our plan to decarbonise shipping, enhance Good Hope following attacks in the Red Sea by
safety for our seafarers and help grow the econ- Houthis, about 10% more capacity is needed
omy. AI has the potential to revolutionise the to manage global container trades. Capacity
sector, create jobs, and support the economy’’. needed to manage any market growth should
AI innovations are already transforming how be added to those 10%.
we tackle and diagnose diseases like cancer, “When ships start increasing sailings via the
improving our public services and ramping up Red Sea and the Suez Canal, we will most likely
productivity. It is the defining technology of our see significant oversupply. Between 2019 and
generation. We have invested over £3.5 billion 2023, the fleet grew 21% while container vol-
in the technology in the last ten years and are umes only grew 4%. Between 2023 and 2025,
currently more than doubling the ‘Incubator for the fleet is expected to grow another 15%,” says
AI’ team, recruiting the best of British talent to Rasmussen.
drive AI integration across the public sector.

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