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The Lloyd’s List Podcast: Shipping is not moving quickly enough

Listen to the latest edition of the Lloyd’s List’s weekly podcast — your free weekly briefing on the stories shaping shipping

The annual Lloyd’s List Outlook Forum offers the last word on the forces shaping shipping right now, but the common theme among discussions ranging from decarbonisation to safety and regulatory risk was that the industry is just not moving ahead with sufficient pace

 

THE shipping industry is not moving quickly enough. That was the headline conclusion from this year’s Lloyd’s List Outlook Forum where industry leaders offered their views on the forces shaping shipping.

Key takeaways from this year’s event, which included the results of the annual Lloyd’s List Industry Poll included:

  • A global recession is the biggest threat to shipping in the next two years (49%), followed by regulatory uncertainty (28%) and an oversupply of vessels (12%)

  • The global energy transition is mainly seen as a strategic opportunity for shipping businesses. However…

  • The shipping industry and related sectors across the supply chain need to work more collaboratively if the pace of progress on decarbonisation is going to accelerate in time to meet 2050 targets

  • Carbon pricing in shipping can work, but more attention needs to be paid as to where the money raised is diverted

  • The Carbon Intensity Indicator will not have the desired effect of reducing emissions but succeed in raising awareness of where emissions are being generated from

  • The most significant macro factor impacting shipping in the next two years will be inflationary pressure (34%), followed by slowing growth in China (33%)

  • Efficiency retrofits (29%), digital optimisation and zero carbon R&D (both 24%) are the best investment opportunities for shipping in 2023

  • Container freight rates are expected to stabilise either slightly above or on par with the pre-pandemic average

  • Tankers is expected to be the best performing shipping segment in 2023 (40%), ahead of containers (27%) and dry cargo (14%)

Download the full results from our Outlook Poll and also the Key Takeaways from the Lloyd's List Annual Outlook Forum 2023 here

 Speaking on this year’s Forum were:

  • Magda Kopczynska, director, DG for Mobility and Transport of the European Commission

  • Karrie Trauth, head of shipping at Shell

  • Rasmus Bach Nielsen, global head of fuel decarbonisation at Trafigura

  • Christopher J. Wiernicki, chairman, president and chief executive at ABS

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