ESSAR SHIPPING (CYPRUS) LTD

Order intake, exports, and green technology demand fuel confidence for 2025Germany’s maritime equipment and offshore supply industry is posting steady growth in 2024 and setting an optimistic course for 2025, according to new figures released by the VDMA Marine Equipment and Systems Association.With an average turnover increase of 5.5% in 2024, German maritime suppliers are proving resilient in the face of global supply chain volatility, geopolitical tensions, and a fiercely competitive international market.

Chinese shipyards’ market share has dropped from 72% to 52% in the first half of 2025 amid growing concerns over the impact of US Trade Representative (USTR) port fees on Chinese ships, according to the latest report from BIMCO, the world’s largest shipping association.USTR port fees, set to take effect in October 2025, will impact both Chinese owners and operators, as well as ships built in China, BIMCO said.Smaller Chinese-built ships will be exempted from fees, depending on sector-specific criteria, along with exemptions for short haul voyages.Global newbuilding contracting in terms of Compensated Gross Tonnage (CGT) dropped 54% y/y during the first half of 2025.

With all the Legislative fanfare, Executive Orders, Committee meetings, lobbying efforts and media announcements concerning American Shipbuilding, Naval Warfare and Maritime Dominance, it is no surprise that the result of the uproar is shear confusion within the maritime industrial base (MIB).  The April 9, 2025 Executive Order Restoring America’s Maritime Dominance lists more than several reports to the President due within 90 days. Following those initial updates other reports are due at 180 and 210 days. The industry as a whole has not seen references to any of the reports being completed.

Seatrium has announced the impending delivery of Petrobras 78 (P-78), the first of a series of turnkey floating production, storage and offloading (FPSO) units to Petrobras.The sailaway ceremony took place two weeks ago at Seatrium’s Singapore yard. Upon delivery, the P-78 will be deployed in Brazil’s prolific Buzios field, the largest deepwater oil field globally, with a production capacity of 180,000 barrels of oil per day (bopd), 7.2 million cubic metres (mcbm) of gas per day, and a storage capacity of 2 million barrels of oil.The P-78 will rank among the largest in the global operating fleet of FPSOs.

The Port Authority of Valencia (PAV) presented its Strategic Plan at the Clock Building of the Port of Valencia, outlining a vision and series of projects with a clear target year of 2035.This is a ten-year plan designed to consolidate Valenciaport as a generator of wealth and quality employment, while also acting as a driver of investment and transformation in the port and logistics ecosystem. Its mission is to deliver the best possible service to the business sector.By 2035, Valenciaport aspires to handle up to 45% of Spain’s loaded container traffic for imports and exports.