The skipjack Nathan of Dorchester celebrates 30 years on the water. This interview explores the history behind it at the occasion of its July 4th birthday.

Nathan Of Dorchester - WHCP

What do I build? Where do I build it? How much does it cost? And when can I get it? 

That’s the checklist of shipowner’s questions right now as they consider newbuildings. 

If you asked a shipowner what they would be looking for a decade ago the answer to those questions would be pretty standard. If money was no object they would plump for the quality of Japanese yards, they would know exactly which engine was the most efficient for their requirements and the list optional specifications would largely be a question of cost and strategy.

As we have reported in previous editions of the podcast, the shipping industry’s decarbonisation strategy is largely built on a fuel mix for which availability is low, energy density is low, capital requirements are high, prices are at record levels, consumer signals are weak, and the ownership structure is fragmented with no clear market leader to drive the new market offering. 

And yet orders have to be placed – regardless of the regulatory uncertainty, lack of supply, scalability of availability of technology or fuels, the fleet news renewing. Decisions have to be taken and inevitably the interplay between flexibility, efficiency, and yes cost, make for a complex process, that more often then not ends up looking like a series of bets more than a strategy.

So this week I want to explore how the industry is thinking about these decisions. What’s the best ship you could theoretically build today? If money were no object and you could get on a plane and find yourself in a shipyard office withal the available specs in front of you – what do you go for?

Joining Richard on the podcast this week are: 

Claire Wright, head of Hanwha Ocean Europe

Nikos Tsatsaros, construction director at Lloyd’s Register

The Lloyd’s List Podcast: What is the best ship money can buy right now?

This episode of the Lloyd's List podcast was brought to you by Lloyd's Register - visit www.lr.org/en/ for more information.



In China, shipyards that were distressed assets just years ago are now highly sought after. And if you happened to buy into some back then, congratulations; you likely stand to make a windfall profit.

Shanghai-headquartered DCL Investments made one such shrewd play more than two years ago. It invested in restructuring bankrupt Yangzhou Guoyu Shipbuilding at bargain prices, becoming the yard's controlling shareholder in July 2024.

Now this facility, with over 300 acres of land, 2 km of Yangtze river frontage, and four slipways able to produce up to 18 merchant ships annually, is generating positive cashflow by leasing to other shipbuilders. It could also bring DCL Investments a hefty return if snapped up by the next buyer.

Behind this story is the unfolding of the latest shipbuilding cycle: orderbooks swell, ship prices surge, yards’ profits rebound, and capacity expands.

But spectres of the past haunt: will rampant overordering end in yet another devastating crash? Those who lived through the order bubble prior to the 2008 financial crisis can’t help but worry about history repeating itself.

Sanguine voices, however, counter history won’t simply repeat. This cycle still has room to run, optimists say, fuelled by fleet renewal demand amid massive levels of aging tonnage and tightening emissions rules absent in the frenzied 2000s.

Meanwhile, the industry outlook is intertwined with various uncertainties. Can vessel earnings justify the rising ship prices? Can shipyards resolve labour shortages? Is the International Maritime Organization able to accomplish its green ambitions? And, will excess capacity expansion re-emerge in China, the world’s largest shipbuilding nation and, disrupt markets?

Discussing shipbuilding prospects on the podcast this week:

Wang Linyu, managing director of DCL Investments
John Cotzias, founder of Xclusiv
Dimitris Roumeliotis, research analyst of Xclusiv
Rob Willmington, markets editor of Lloyd’s List

The Lloyd’s List Podcast: Why are Chinese shipyards being brought out of retirement?

A binaural soundscape, originally composed as an immersive soundtrack in Dolby Atmos for the short film “Clydebuilt” (2021), sonifies the rich history of Glasgow’s shipbuilding industry. Inspired by the documentaries “Seawards the Great Ships” (Harris, 1961) and “The Men Who Built the Liners” (BBC4, 2009), the piece captures the echoes of the River Clyde’s industrial past. This musique concrète-inspired soundscape weaves together found sounds, field recordings, and archival audio, evoking the spirit of the workers and the rhythmic pulse of the shipyards, once a hub of craftsmanship and industry.

Clydebuilt

Discover the untold stories of Govan’s legendary builders who shaped the Clyde and left a lasting mark on Scotland’s industrial heart. A journey of grit, pride, and legacy.

Clyde’s Titans: The Builders of Govan

February - Richie Woolley, Some Recherche Bay archaeology and its historical context

Even before Donald Trump pronounced the end of gloablisation, the shipping industry was effectively operating in a self-induced state of paralysis.

Uncertainty over a looming trade war, the regulatory cost of carbon and just how long the global current disruption can hide a fundamentally unbalanced shipping market had led executives across the industry to conclude that doing nothing for the moment is likely to be the safest bet they could make.

That pause is now a hard stop.

What occurred last week was not just the US starting a global trade war, or sparking a rout in stock markets. It was the world's hyper power firmly turning its back on the globalisation process it had championed, and from which it handsomely profited in recent decades.

What is president Trump going to do next? What can Europe realistically do in response? Are we going to have peace in the Middle East and is the Red Sea opening anytime soon? Does Russia somehow come in from the cold?

It’s not just clarity from the International Maritime Organization shipowners are searching for now…

Joining Richard on the podcast this week are:

Chris Wiernicki, chief executive of American Bureau of Shipping

Knut Orbeck Nielsen, chief executive of DNV Maritime

Eman Abdalla, global operations director at Cargill Ocean Transportation

Nick Brown, chief executive, Lloyd's Register

Adam Kent, managing director at Maritime Strategies International

Why shipping has hit the pause button on investment

In this episode of Marine Log’s Listen Up! Podcast, sponsored by Chevron, we dive into the redefining role of green technology in the maritime industry. With us today is Will Ayers, Elliott Bay Design Group's chief electrical engineer, and Joe Hudspeth, director of sales, who will explore the challenges and opportunities of sustainable vessel designs. From cutting-edge electrical systems to future-proofing strategies, they’ll discuss how they’ve been behind the scenes in integrating innovative solutions to reduce environmental impact and meet evolving regulatory demands. Tune in to discover how the maritime sector is embracing sustainability and the future of efficient shipbuilding.

Innovating for the Future: Green Tech and Sustainable Vessel Designs

Leslie Marshall Show - A Non-Partisan View on U.S. Tariffs with AAM President Scott Paul

This episode of the Lloyd's List Podcast was brought to you by Wirana - visit www.wirana.com/ for more information

THERE are tens of thousands of shipowners in the world, but only a handful of them can be properly be classified as major players.

Much of the content of Lloyd’s List naturally focuses on the MSCs, Frontlines and Maersk’s of this world, whose fleet lists run to the hundreds.

When they want to pick up some newbuildings or even to buy one of their rivals, they have few problems finding the finance. Banks refer to them as tier one clients and actively court their business, on preferential terms.

But the mean average owner is probably a family-owned businesses with maybe half a dozen ships and the median average operator will have perhaps a few dozen. These kinds of guys are the backbone of our industry.

Historically, they didn’t have too hard a time of time it either. Until the early years of this century, many European banks were up to their neck in ship finance and indeed, some were devoted to it entirely.

This was the era of what was known as relationship banking. Shipping bankers actually understood shipping, including its cyclical nature.

Owners with a sensible business plan, maybe backed by long-term charter employment, and a decent equity stake could usually negotiate a sustainable mortgage.

This lost age disappeared with the onset of the global financial crisis in 2008, when European banks largely quit the scene. In the following decade, private equity moved in and made a small fortune, but only by starting with a large one. Chinese leasing deals became the preferred option – and sometimes the only option - for many.

But their S&P choices face increasing constraints. New environmental regulations are coming in thick and fast, and there is still no agreement on what alternative fuels will be standard, or even available at all, a few years from now.

Politics is always the wild card, and Trump’s decision to introduce hefty port fees on tonnage build in China or legally owned by Chinese lessors will have blindsided many.

So if your surname is not Aponte or Fredriksen, how the heck do you make rational S&P decisions?

Joining law and insurance editor David Osler this week are: 
Dagfinn Lunde, co-founder eshipfinance.com 
Kavita Shah, partner, Watson, Farley and Williams 
Costas Delaportas, chief executive, DryDel Shipping


Buying ships in 2025: what the average owner needs to think about

The Tasmanian Historical Research Association promotes research into and the publication of Tasmanian history.

WHCP Radio on the Mid-Shore of Maryland. We are the only non-commercial community radio station on the Mid-Shore. We are a music station, a news station, an NPR Member station, and we are obsessively about our local communities on the Eastern Shore of Maryland! We primarily serve the communities of Dorchester and Talbot Counties, but our transmitting distance covers over 7 counties in the Chesapeake Bay Region!

The best progressive talk right here, on demand. Always Progressive, Always On!

Lloyd’s List is the world’s leading source of insight, analysis and data for shipping businesses and professionals

New tracks tagged #shipbuilding