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check out this cool little graph of the growth of the world’s shipping fleet since 1948, based on the Lloyds of London ship registry.

Basically the number of ships has grown steadily at about 1.1% per year while the carrying capacity of those ships has grown on an average of 2.8% per year over the same period. “These two charts show the explosion in the size of the world fleet in the 1970s that is driving the current demand for replacement, 30 years later. The trend lines superimposed on the past 15 years of these two charts illustrate the fact that the number of ships in the world fleet grows at less than half the rate that the tonnage in the world fleet grows, partly because the average ship gets bigger every year and partly because the industry gets more efficient every year.” So, there was an explosion of ship construction in the 1970’s and now those older vessels need to be replaced, and the ships built to replace them will be both larger and more efficient, continuing the trend that has been going on for sixty years. Hmmmm…. . . . . . .

Source: VIP Panama