The Norwegian Shipowners' Association is the main employer and interest organization for Norwegian-related shipping companies. In the Norwegian maritime industry, shipping companies create value of close to NOK 100 billion per year. The changed geopolitical situation is affecting shipping companies, and members of the Norwegian Shipowners' Association say it has.
Collectively, the revenue for shipping companies organized in the Norwegian Shipowners' Association rose by around 25 percent.
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The issue of Taiwan's development has led to a sharpening of relations between the US and China, and the former economic rivalry has increasingly taken on the character of political security today. For the shipping industry, such a situation could have significant consequences and scenarios for further development in the region are among the issues that the Norwegian Shipowners Association will dedicate more work to in the near future,” says Audun Halvorsen, Director of Safety and Contingency Planning. department of the Norwegian shipowners.
War in Europe
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Energy security
Establishment of the Norwegian Shipping Security and Resilience Centre
Shipping emergency response
Last year, Misje took delivery of the first of 10 Eco Bulk ships, 'Misje Vita'. Despite a more complex political and geopolitical environment in 2023, 7 out of 10 members of the Norwegian Shipping Association believe they will reduce greenhouse gas emissions by 50 percent per year. unit by 2030, and almost 8 out of 10 believe they will be climate neutral by 2050. This will require political will, the use of appropriate political tools and, not least, an industry willing to commit to and take the lead to meet new climate and environmental requirements," says Helene Tofte, director of international cooperation and climate at Norwegian. The Shipping Association.
Association's climate strategy 77 percent of the ship owners believe that they will be climate neutral by 2050 and 70 percent believe that by 2030 they will reduce greenhouse gas emissions by 50 percent per unit compared to 2008. Fuel types and energy carriers that the shipping companies are considering to achieve emission targets by 2050. Fuel types and energy carriers that the shipping companies are considering to achieve emission targets by 2050 Short Sea.
To achieve the goal of being climate neutral by 2050, shipping companies are considering the use of potential fuels such as electric-hybrid, ammonia, biofuel and methanol. Members of the Norwegian Shipowners' Association are climate optimists and believe they will reach the goal of zero emissions by 2050. This is made clear by the fact that 76 percent of members mention high investment costs as an obstacle to the use of alternative fuels.
Despite challenges and obstacles associated with the use of alternative fuels, many investments are being made in both new and green solutions. An upgrade of the Solstad vessel 'Normand Ocean' resulted in a 25 percent reduction in fuel consumption after installation of a battery and charging system.
2023 is an important year for climate policy
The EU continues to lead the way in climate policy and has set ambitious targets to become climate neutral by 2050. The Association has participated in the development of proposals currently under consideration in the Fit for 55 regulatory package and supports the climate goals of defined in the EU green growth strategy, the EU Green Deal. This will be done through the inclusion of transport in the EU Emissions Trading System (ETS) on 1 January 2024.
The Norwegian Shipowners' Association has estimated that, for the over 400 ships subject to quota obligations in its member fleet, €250 million a year could be seen, depending on the price of emission allowances. It has now been decided that some of the revenue from emissions trading will be channeled through the EU Innovation Fund, while a larger share of the revenue from allowances will be returned to member states. The Norwegian Shipowners' Association believes that a fund should be created based on the NOx Fund model that should be used to finance CO2 reduction measures.
The industry has very positive experiences in reducing NOx emissions through technology development supported by the NOx fund. In the coming year, a lot will happen on climate matters in both the EU and the UN's International Maritime Organization (IMO). International climate requirements adopted by the IMO play an important role in transforming the industry.
Through the International Shipowners' Association ICS, the shipping industry has proposed a global CO2 tax on fuel administered by the IMO to be reinvested in zero-emission solutions in the industry. The Norwegian Shipowners' Association believes that these payments should be channeled through a dedicated fund for green initiatives in shipping.
We must invest in offshore wind
Assessment of shipping companies on the most important factors to achieve further growth in the offshore wind market. Assessment of shipping companies on the most important factors to achieve further growth of the offshore wind market. Short seas. Of the employees in the maritime industry, more than 90 percent work outside Oslo," says Gjerdset.
The Norwegian Shipowners' Association strives to provide framework conditions that can stimulate value creation, innovation and technological development in the industry. At the same time, the industry needs more bright minds, both onshore and offshore, in the coming years. We see that there is a high demand for skills and labor in the maritime sector.
Here is the "Tannhauser" which is one of the most modern and energy efficient RoRo ships in the fleet. Strengthening competences through further education and continuous training will be one of the most important factors in ensuring the appropriate expertise for the maritime industry in the coming years. The total revenue of the shipping companies organized in the Norwegian Shipowners' Association is expected to increase by approximately 25 percent in 2022.
However, it appears that the strong sales growth in the deepsea segment will normalize in 2023. For oil rig companies, the negative sales trend that emerged in the aftermath of the 2014 oil crisis continues. This description of the situation can also be found in the market comments of respondents in this segment.
Shipping companies in this segment now report they intend to build 27 ships in the next five years.
Norway the fourth largest among the world’s shipping nations
Over the past three years, the corona pandemic has caused major economic challenges for the international supply chain in the transportation of goods. Changes in world trade have led to a significant increase in freight rates, especially for container and dry bulk carriers in 2021 and 2022. After two and a half years of very high prices, we started to see a normalization in these segments in the second half of 2022.
At the same time, we see LNG rates continuing to rise in 2022, particularly in the winter months as a result of higher LNG demand. Like LNG, freight rates for the transportation of crude oil have increased during 2022, starting in 2023 at a high level. Until last year, data from IHS Markit was used to calculate the size and composition of individual countries' fleets, while price data was mainly obtained from Clarksons Platou.
The biggest difference in the database is that Clarksons has a broader coverage of vessels across countries.
The Norwegian-controlled foreign-going fleet
When asked in this year's member survey if it is viable to home the ships this year, members of the Norwegian Shipowners' Association answer that the potential is around 35 ships. Vessels on order for the Norwegian controlled foreign fleet by vessel type as of 1 January 2023. Vessels on order for the Norwegian controlled foreign fleet by year of delivery as of 1 January 2023.
These countries have remained stable as the most important short-sea shipping nations, besides Norway, over several years. The Norwegian Shipping Association's members in the deep sea segment check more than 600 ships that call at ports around the world every day. The North Sea, and especially the Norwegian continental shelf, is the most important market for the Norwegian offshore industry, and is a very important arena for securing ... the basis of international competitiveness for offshore companies.
Members of the Norwegian Shipowners' Association control around 50 mobile offshore units and a large offshore fleet of over 400 vessels. More than 60 percent of shipowners who do business at sea cite Norway as the most important country. If we look at all shipowner segments as one and isolate all the 'most important countries of special interest', 50 percent say that Norway is the most important.
Member survey on transport companies. future perspective and framework conditions The Norwegian Shipowners Association conducted a survey of its members in the period from 3 January to 20 January 2023. The survey participants are representative of the membership of the Norwegian Shipowners Association, both in terms of size of the fleet and the ship segment.
DATA BASIS AND METHODOLOGY
In the survey, the shipping companies are asked to report revenue in 2021, an estimate for revenue in 2022 and expected percentage growth in revenue for 2023. This is to assess whether the self-reported revenue in the survey can be used as a basis for calculating the revenue of the total population of shipping companies in Norway. Furthermore, the estimated turnover is corrected for the share of the total turnover in each of the four shipping groups that are included.
Global Ship Fleet Valuation Menon Economics has estimated the value of the world merchant fleet from 2001 to date, divided into 14 ship segments and across all countries of the world. From 2022, data to calculate fleet composition and size is drawn from the Clarksons World Fleet Register. The biggest difference in the database is that Clarksons has a wider coverage of ships across nations.
Additionally, we have updated the data for the fishing fleet as Menon gained access to it in 2022. Changes in data source and thus coverage combined with more accurate ownership information and updating the basis for valuation. Examples of this are the strong value increases, especially in the gas and dry bulk segments of the Norwegian fleet.
The Norwegian Shipowners' Association maintains its own statistics on the foreign fleet controlled by Norway. Ships under foreign flags, owned by Norwegian-controlled shipping companies (based on the premise of a minimum Norwegian ownership of 50 percent) and sailing in foreign trade.
