It is one of the most important questions for the shipping markets. What is the outlook for newbuilding deliveries in 2025? As the end of the current year approaches, the contours of the global merchant ship fleet additions profile during the new year ahead – for bulk carriers, tankers, container ships, gas carriers and other ship types – are becoming clearer.

This year newbuilding orders placed at shipyards in China, South Korea, Japan and elsewhere have increased robustly. The estimated deadweight tonnes volume ordered in the first nine months of 2024 reached last year’s annual total. Tanker and container ship ordering has been stronger, while gas carrier ordering remained brisk. But most contracts recorded recently are scheduled for delivery in 2026 or later. The scheduled deliveries in 2025 have been less affected, and the total may not be much higher than the volume delivered in the current year.

Buoyant recent ordering

Shipowners’ decisions on extending or renewing their fleets have shown a mixed pattern among vessel types this year. Although the broad picture was a distinct strengthening of motivation to order new ships, the trend has been uneven and in part negative. The pattern evolving reflected differing views on longer-term prospects and circumstances in each market segment.     

In the biggest merchant fleet category, bulk carriers, newbuilding orders have receded after last year’s revival. According to data compiled by Clarksons Research, bulk carrier ordering in the first nine months of 2024 totalled 33.5 million deadweight tonnes. Currently it seems unlikely that the annual figure will reach last year’s 52m dwt volume.

By contrast, tanker newbuilding orders in the first three quarters of this year continued to increase. A total of 43.5m dwt is provisionally estimated, after an annual 38.1m dwt total in 2023 which in turn was well over three times the very depressed level recorded in the previous year. Gas carrier contracting is also up at 12.9m dwt in the first three quarters of 2024. This volume exceeds last year’s annual 11.5m dwt which was much lower than the record high attained in the previous twelve months.

Container ship ordering has revived again sharply, rising to 32.0m dwt in this year’s first three quarters (using a common tonnage measure for comparison purposes – the usual measurement is the teu, or twenty-foot equivalent unit). During 2023 as a whole the volume had declined to 17.9m dwt.

Ordering enthusiasm this year has been concentrated more narrowly in specific size groups. Among tankers, VLCCs attracted the most interest, resulting in contracting of almost three times last year’s reviving volume. Higher orders for liquefied natural gas (LNG) carriers emerged, while greatly increased orders for larger container ships of 8,000 teu and over were a feature.

2025 deliveries schedule

At the beginning of October this year, the world orderbook for merchant ships of all types totalled 342.4m dwt, a rise of about a fifth compared with the total at the beginning of 2024, and equivalent to about 15% of the existing world fleet, based on Clarksons Research calculations. About a third of that figure, 94.5m dwt, is scheduled for delivery in 2025. But that figure may eventually rise as a result of any delayed deliveries from the current year, and possibly some orders already placed being revealed later.

The outlook implies that global merchant ship newbuilding deliveries next year could rise slightly compared with an estimated 90m dwt in 2024 and 88m dwt last year. Within this fairly stable trend, some large variations among vessel types are likely to be seen. In 2025 notable changes expected, compared with results for the current year, are an upsurge in tanker deliveries, higher gas carrier deliveries, a downturn in the container ships volume and unchanged bulk carrier deliveries. These changes are shaped by earlier patterns of ordering during the past couple of years.

Another feature of the global orderbook for newbuildings is significant. There are differences, among the main ship type segments, in the percentage of the existing fleet deadweight tonnage that current orders (for all delivery dates) comprise. The highest is in gas carriers, where newbuildings on order are now equivalent to a huge 47% of the existing fleet. The next highest is container ships, where equivalent to 23% is on order. For tankers the figure is 13% and for bulk carriers 10%. Large parts, especially ships ordered during the past twelve or so months, will be delivered further ahead in 2026 and 2027.

Ship investors’ changing perceptions, or sometimes confirmed perceptions, about the outlook for the freight markets and profitability expectations, have been reflected in how investment in new tonnage has unfolded. Aspects complicating decisions were uncertainties about prospects for sea trade growth amid the energy transition, and about the alternative fuels imperative. Rising shipbuilding prices and stretched orderbooks at shipbuilding yards also had an impact.          

Article written by Richard Scott FICS
Committee member, London & South East Branch, Institute of Chartered Shipbrokers

Company culture isn’t just about values—it’s a strategic asset that can impact employee satisfaction, attract top talent, and drive performance. At the core of shaping this culture is the CEO, whose influence can make all the difference in creating a workplace that thrives. Here’s how CEOs shape culture to ensure lasting success.

1. Defining and Embodying Core Values

Great company cultures start with clear, authentic values. CEOs are pivotal in defining these values and setting the tone for how they’re lived by daily. By embodying the culture’s values, whether emphasising transparency, collaboration, or customer focus, CEOs act as role models, inspiring employees to follow suit. When leaders genuinely practice what they preach, it builds trust and reinforces the foundation of an authentic culture.

2. Fostering Employee Engagement

CEO involvement is key to employee engagement. Regular interactions, open communication, and genuine recognition show that employee contributions are valued. CEOs can foster a sense of purpose by linking individual efforts to the company’s broader mission, motivating employees and creating a culture of openness. Engaged employees are more likely to be loyal, productive, and aligned with the company’s goals.

3. Attracting and Retaining Top Talent

A strong culture doesn’t just attract talent—it keeps it. When CEOs champion company values and share them publicly, potential employees see a clear cultural alignment and know what to expect. This visibility can draw talent aligned with the company’s mission and values, helping to create a cohesive team with a lower turnover rate.

4. Leading Through Change

CEOs are instrumental in maintaining culture during times of change. Whether facing economic shifts or a strategic pivot, an engaged CEO keeps culture intact by being transparent, communicative, and supportive. This approach preserves trust and morale, allowing the company to navigate transitions smoothly.

The Lasting Impact of CEO-Led Culture

By shaping culture with intention, CEOs create a lasting, positive impact. With clear values, engaged employees, and a strong talent pool, CEOs build a resilient culture that drives performance and keeps the organisation future-ready. A CEO’s dedication to culture is the key to cultivating an environment where people want to work, stay, and succeed.

Blog written by Bethanie-Taylor Grenfell, Marketing & HRC Executive

Navigating conversations in the boardroom can be challenging, even for seasoned professionals. In these high-stakes discussions, how you communicate is just as important as what you communicate. The boardroom requires a unique skill set that goes beyond technical expertise; it demands the ability to engage at a strategic level, understand complex dynamics, and convey ideas with clarity and confidence. Whether you’re presenting a project update, proposing a new initiative, or simply joining the conversation, here are key strategies to help you speak the language of the boardroom.

1. Mirror Their Language and Style

One of the most effective ways to connect with board members is to mirror their tone and language. Pay attention to how they communicate and the terms they emphasise, such as “return on investment,” “long-term strategy,” or “market positioning.” Reflecting their language demonstrates your understanding of their priorities and ensures that your message resonates. When you adopt their strategic, high-level approach, you’ll communicate in a way that aligns with their thinking, making your ideas easier for them to grasp and support.

2. Cultivate Intellectual Curiosity

Board members bring a wealth of experience, and their focus is often on multifaceted challenges that require deep insight and understanding. Cultivating intellectual curiosity is key: show a willingness to dive into the “why” and “how” of business decisions, not just the “what.” Engage with industry trends, stay updated on emerging risks, and ask thoughtful questions that demonstrate your interest in broader organisational goals. This curiosity signals that you’re more than just a technical expert; you’re a strategic thinker who sees the bigger picture and is genuinely invested in the company’s success.

3. Avoid Defensiveness

Feedback in the boardroom is often direct and can sometimes feel critical. However, taking feedback in stride is essential to gaining respect. Instead of becoming defensive, use feedback as an opportunity for growth and improvement. Keep a solutions-focused mindset: rather than justifying past decisions, channel your energy into finding ways to address any concerns raised. This approach shows that you’re receptive to constructive criticism and committed to achieving the best outcome. Demonstrating emotional intelligence in this way fosters trust and reinforces your reliability as a leader.

4. Don’t Be Too Nice

While professionalism and respect are always necessary, being overly agreeable in the boardroom can backfire. If you dilute your opinions to keep everyone happy, you may inadvertently send the message that you’re not confident in your own ideas. Board members want to see that you believe in your recommendations. Stand by your insights, back them up with data, and be prepared to engage in constructive debate if needed. Boardrooms thrive on a diversity of perspectives, so don’t hesitate to share yours firmly and confidently. Your willingness to stand by your ideas demonstrates conviction and resilience, qualities highly valued in senior leadership.

5. Make Data Your Ally

In the boardroom, the power of a well-supported argument can’t be overstated. Whenever possible, base your points on solid data, whether it’s financial metrics, market trends, or operational performance indicators. Data brings objectivity to your recommendations, showing that they’re rooted in fact rather than opinion. However, don’t get too bogged down in the numbers; focus on what the data means for the company’s strategic objectives. Present it in a way that’s concise and aligned with the board’s priorities, reinforcing your insights and making it easier for board members to make informed decisions.

6. Be Concise and Purposeful

Boardroom agendas are packed, and time is a premium. When presenting your ideas, aim to be concise and to the point. Begin with your conclusion or recommendation, then support it with key points and data. This approach, often known as the “executive summary” style, respects the board’s time and provides them with a clear picture of your message from the outset. If they want more detail, they’ll ask, so focus on clarity and impact over exhaustive detail.

Conclusion: Building Boardroom Confidence

Learning to speak the language of the boardroom is a process, but mastering it can transform how your insights are received and valued. By mirroring the board’s style, cultivating intellectual curiosity, staying receptive to feedback, standing by your ideas, and supporting your points with data, you can create a strong presence that commands respect. Remember that effective communication in the boardroom is about building trust, fostering collaboration, and aligning your insights with the organisation’s strategic vision. When you approach these conversations with confidence, clarity, and purpose, you position yourself as a trusted advisor who can contribute meaningfully to the company’s success.

Article written by Bethanie-Taylor Grenfell, Marketing & HRC Executive

The law on preventing sexual harassment in the workplace changed on 26 October 2024. By law, all employers will need to take reasonable steps to prevent sexual harassment of their employees and not rely on having just a policy in place. The emphasis is on proactivity and not reactivity.

The first step for employers is understanding what constitutes sexual harassment and educating their workforce to this effect. 

So, what counts as sexual harassment?

Sexual harassment is defined as unwanted conduct of a sexual nature which has the purpose or effect of violating a person’s dignity or creating an intimidating, hostile, degrading, humiliating or offensive environment for that person.

Examples of sexual harassment include, but are not limited to:

• sexual comments or jokes, which may be referred to as “banter”
• displaying sexually graphic pictures, posters or photos
• suggestive looks, staring or leering
• propositions and sexual advances
• making promises in return for sexual favours
• sexual gestures
• intrusive questions about a person’s private or sex life or a person discussing their own sex life
• sexual posts or contact in online communications, including on social media
• spreading sexual rumours about a person
• sending sexually explicit emails, text messages or messages via other social media
• unwelcome touching, hugging, massaging or kissing

Sexual harassment may be committed by a fellow worker, an agent of an organisation, or a third party. It does not need to occur in person. It can occur via digital means, including social media or WhatsApp.

How employers can prevent sexual harassment 

Employers should be proactive and systematic in how they prevent and tackle sexual harassment at work.

Employers will need to show evidence of the reasonable steps taken. To do so, they need to focus attention on a number of priority areas:

• Senior leadership: Senior leaders play a crucial role in shaping workplace culture, establishing expectations for behavior and civility. They must embody and promote the values of dignity, respect, and inclusion throughout the organisation.
• Policies and procedures: While a formal policy alone won’t transform culture, having clear written guidelines is essential. These should explicitly define sexual harassment, provide examples, and outline the responsibilities of everyone in preventing and addressing such behavior. These policies can reinforce the organisation’s commitment to preventing and educating staff about sexual harassment. Given its sensitive and complex nature, organisations may choose to handle harassment through a dedicated procedure.
• Training and development: Regular training sessions for all employees are vital to ensure understanding of what constitutes sexual harassment and their roles in preventing and addressing it.
• Reporting: It is essential to establish well-communicated reporting channels for complaints, with a commitment to respond promptly, fairly, and thoroughly. Any instances of discriminatory behavior or harassment must be investigated swiftly, sending a clear message that such conduct is unacceptable.
• Manager Responsibility: Line managers are key in identifying, addressing, and challenging unfair treatment, including sexual harassment. They should receive the necessary training, education, and guidance to confidently confront these issues.
• Monitoring and review: Tracking gender diversity at all levels of the workforce, particularly in recruitment and promotion, will help identify potential discrimination or harassment related to gender. Conducting staff attitude surveys will provide valuable feedback on areas such as gender equality and experiences of bullying and harassment.

You can read more about the changes on the CIPD website

Get ready for new duty to prevent sexual harassment | CIPD