BNP Paribas signed a deal with Japan’s SBI Leasing for financing under newly embraced Japanese Operating Lease with Call Option structures

Use of English law and London arbitration makes the UK a natural centre for shipping law, though the US and Asia also play leading roles

Tech embraces new fuels, new digital capabilities, new engines and equipment and everything in-between. Larger businesses also have the challenge of recruiting and retaining new skills; this sector is evolving rapidly

DNV nudges ahead in terms of gross tonnage and number of vessels, but NK is ahead in deadweight tonnes

Marine insurance has been well to the fore in 2022, providing war risk cover for both ships and cargo carrying vitally needed grain from Ukraine to markets in the developing world, as well as day-in, day-out P&I and H&M policies

Singaporean juggernaut PSA is still on top in the container port sector and with grand expansion plans afoot, it is looking to make its lead position insurmountable

Liberia was the fastest-growing registry in 2022 and expects to overtake top spot holder Panama by the end of 2023, with a raft of newbuildings expected to be delivered

Strong freight and chartering markets in the dry cargo, container and gas sectors have benefited the shipbroking majors as the Ukraine war has provided both challenges and business opportunities. Meanwhile, a new force in shipbroking is being created by the merger of Galbraith’s and Ifchor; combining their operations will create a dry cargo and tanker broking powerhouse and provide competition for the current major broking shops 

In 2022, the Shipmanager rankings remain fairly stable, although the number of ships under management increases; all managers are rethinking their relationship with clients.

The nature of the regulatory debate within shipping is reaching an inflection point when it comes to emissions, but the injection of hugely complex and fluid sanctions has had a notable impact on the industry in 2022