Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 164

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 164
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% from 2020s lows and remained approximately 16% below 2008 levels. Across 2024, dry bulk vessel speeds were on average 0.8% below 2023 levels, slipping to a new annual low, and standing 20% below average 2008 levels.

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Figure 10. Dry Bulk Vessel Speed Trends

Alternative Fuels and Environmental Technology Trends

The dry bulk fleet continues to make some steady progress in the fueling transition, though more slowly than in some other shipping sectors (e.g., container shipping, passenger sectors); by the start of February 2025, a limited 1.1% of dry bulk fleet capacity was capable of using alternative fuels (containerships: almost 8%), while only approximately 14% of capacity on order is set to be alternative fuel capable (compared to 80% of containership capacity), with around 6% being LNG capable, 5% methanol capable, and 3% ammonia capable. A further 15% of the orderbook is alternative fuel “ready”, however, and could be retrofitted to be able to use alternative fuels in the future.

Energy Saving Technologies (“ESTs”), alongside alternative fuels and more efficient “eco” engines (now approximately 38% of fleet capacity), are also playing a growing role in shipping’s decarbonisation efforts, delivering direct fuel consumption and emissions reductions. 42% of dry bulk vessel capacity in the fleet is identified as being fitted with at least one significant EST, up from around 29% at the start of 2020, and around 6% at the start of 2010.

The Environmental & Regulatory Agenda

In recent years there has been a growing range of environmental regulations introduced across the marine transportation industry (see Figure 10). These have included the introduction of a global sulphur cap in 2020 (IMO 2020), which lead to the fitting of exhaust scrubbers or the use of more expensive compliant fuel, and a requirement to fit Ballast Water Treatment Systems, as well as a number of more recent measures aimed at tackling CO 2 and other greenhouse gas emissions.

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Figure 11. Shipping Industry Environmental & Regulatory Timeline

2024 marked the second year that the IMO’s “short-term” measures, EEXI and CII, have been in force. The EEXI set specific, minimum ship-by-ship technical efficiency