Clarkson: Product demand, scrapping put world's fleet on cusp of change in 2004

03/07/2005
The Fall 2004 Clarkson report on the world's shipping industry hit desks in January 2005.The report's perspective is September 2004. Some events since then clearly affect the report's commentary and conclusions. Nevertheless, as the only publicly available overview of world shipping, the report's analysis can be useful.Major elements of this analysis focus on the world's economy as a backdrop to events among the world's shipping fleets, the skyrocketing rates for very large crude carriers (VLCCs), and the rapid expansion of the world's LNG fleet.Tale of two economiesThe report notes that Asian economies, not just China but all of Asia, grew in the 6 months lead...
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