Image: (L-R): Cris Partridge, Kyriacos Panayides, Ulrich Ulrichs, Lars Feller, Mohaned Alsheqaiq. CREDIT: Richard Theemling
Faced with environmental regulations, shifting cargo flows, and geopolitical uncertainty, leading multipurpose and heavy-lift shipping companies are pushing hard to modernize their fleets—with adaptability now seen as the industry’s most valuable asset.
Speaking at Breakbulk Europe, top executives shared how newbuild projects are being shaped not just by emissions goals, but by the real-world challenges of global trade disruptions and evolving customer needs.
Kyriacos Panayides, CEO of AAL Shipping, highlighted that the post-pandemic market presented a window of opportunity. “When MPV rates shot up, it was tough to plan long-term. Now that rates have softened, we’ve moved forward with our third-generation vessels, built to meet modern cargo demands.”
Those demands, however, aren’t easy to forecast, especially with ongoing instability in key shipping lanes like the Red Sea. Some carriers are still avoiding the region due to safety concerns, while others have resumed transits, creating an uneven playing field.
Lars Feller, CEO of dship Carriers, voiced frustration with the ambiguity. “We tried running some of our long-term vessels through the Red Sea, but it’s risky. What’s difficult is that there’s no clear rule. Some carriers can go through—others won’t. It should be black and white, not this grey zone. We’re missing out on opportunities while others sail on.”
Meanwhile, carriers are trying to stay ahead of new rules that are reshaping how ships are built and operated. Mohaned Alsheqaiq, acting VP at Bahri Line, emphasized the challenge of adapting quickly. “We’re working to stay flexible across our fleet, trade routes, and compliance strategies. But when regulations come too fast, it’s the end user who pays the price.”
He stressed the need for a phased approach. “We all support environmental goals, but these changes take time. We have vessels already in operation—building and retrofitting them doesn’t happen overnight.”
Ulrich Ulrichs, CEO of BBC Chartering, agreed that the market is under pressure to evolve. “A lot of vessels out there are old—some are over 20 years and just not efficient anymore. The demands are different now. Replacing those ships isn’t just about capacity; it’s about staying relevant.”
According to Feller, dship’s renewal program is already well underway. “We’ve got four new ships on order—three arriving this year, four the next, and another after that. It’ll refresh a third of our fleet. Initially, we planned to order more, but we’ve opted for balance.”
He explained that balance means more than just numbers. “Bigger ships aren’t always better if you can’t access key ports. Our vessels are built for flexibility—we go to small ports, inland locations, and niche terminals in Asia and Japan. That’s what works for our model.”
As more regulation kicks in, companies are also feeling the operational weight. Panayides noted the uptick in internal strain. “We’re seeing the need for more personnel, more systems, more time. It’s a real shift. These rules come from policy makers who don’t always understand the complexity of shipping operations. But we comply—because we all want a greener future.”
Still, despite all the uncertainty, the overall tone of the panel was one of resilience.
“There’s always something—tariffs, war, political unrest,” said Ulrichs. “Look at the Panama Canal last year, and now the Red Sea. We don’t think short-term anymore. You’ve got to stay sharp and flexible. That’s the only way to survive in this industry.”
