Clarksons Research have released their mid-year review of shipping markets. With shipping often at the “frontline” of uncertain geo-political dynamics, understanding underlying market trends has often been “tricky”. Our cross-market day rate tracker the ClarkSea Index softened “only” 5% y-o-y in 1H to $24,101/day, but, container aside (+79% y-o-y), tankers (-33%), bulkers (-31%) and LPG (-22%) all eased back. Summarising the mid-year trends, Steve Gordon, Global Head of Clarksons Research, commented:

• A half year of building complexities, with shipping often at the “frontline” of uncertain geo-political dynamics
• Our cross-market charter rate ClarkSea Index softened “only” 5% y-o-y in 1H but excluding container markets the index is down 31% y-o-y
• Global seaborne trade volumes stable at 12.6n tonnes per year but growth varied across segments as underlying Chinese economic trends introduce weakness and US tariff policy increased complexity
• Asset markets market activity has also slowed, with newbuild order volumes down 54% (in the context of a very active 2024) and S&P volumes more resilient (down 16% y-o-y)
• Global shipbuilding output stable year on year (China 48%, Korea 31%, Japan 13%) while new orders for China dropped (52% share vs 70% in 2024)
• Fleet supply growth remains below trend overall, demolition expected to increase going forward and ageing demographics supportive of fleet renewal
• ‘Green Transition’ consensus weakened but remains a key underlying trend and economic opportunity, energy transition and energy security remain trends supporting gas and offshore

Pls find below the Shipping Market Mid-Year Review / Clarksons Research

1H 2025 Shipping Market Review