The shipping industry will require the construction of over 800 new vessels by 2050 to meet the anticipated surge in hydrogen-based commodity and CO2 transport under a new fleet era, analysts said.
This is part of the important analyses presented by various analysts at the annual convention of the Hong Kong Shipowners Association (HKSOA) on Feb. 25, 2025. The event themed “2025 – Evolution of Trade and Cargo Flows,” provided members with a compelling glimpse into the evolving landscape of global trade and shipping. This year’s event featured expert insights from Apostolos Zampelas and Sal Arora of McKinsey & Company, attracting a strong turnout of industry professionals.
The presentation underscored the intricate interplay of geopolitical forces, the global energy transition, and evolving trade dynamics that are reshaping the future of shipping. This annual HKSOA event continues to serve as a vital platform for disseminating critical insights and empowering industry leaders to make informed strategic decisions.
Zampelas and Arora delivered a comprehensive presentation, illuminating key trends shaping the maritime sector.
Highlighting their presentation is the hydrogen revolution. The demand for hydrogen is poised for explosive growth, projected to increase two to fourfold by 2050.
This means the shipping industry will require the construction of over 800 new vessels by 2050 to meet the anticipated surge in hydrogen-based commodity and CO2 transport. North America is set to emerge as a leading hub for both supply and demand by 2030.
To meet the anticipated surge in hydrogen-based commodity and CO2 transport, the shipping industry will require the construction of over 800 new vessels by 2050, Zampelas and Arora said.
Foremost, the presentation highlighted a resilient global trade despite geopolitical uncertainties, global trade remains robust, hovering near historical peaks and underscoring the enduring reliance of all regions on interconnected supply chains.
Zampelas and Arora also cited a notable shift in trade patterns underway, with the United States actively diversifying its sourcing and forging stronger ties with other Asian nations.
Strategic Imperatives for Shipping Success: In this dynamic environment, shipping companies can secure a competitive edge by integrating macro scenario planning into core business strategies; strategically deploying fleets to capitalize on high-value trade flows; forging strategic partnerships to develop specialized vessels for emerging markets; and leveraging data-driven insights to optimize operations and decision-making.
This annual HKSOA event continues to serve as a vital platform for disseminating critical insights and empowering industry leaders to make informed strategic decisions.
The HKSOA extends its sincere gratitude to Apostolos Zampelas and Sal Arora of McKinsey & Company for their invaluable contributions and ongoing support.
