*Revelation from Shipbuilding: The Power of Cycles* "_Since World War I, shipbuilding cycles have lasted 20-30 years, driven by the replacement cycle of ships which usually have a lifespan of the same length. The last peak in global ship deliveries occurred in 2011, resulting in more and more ships nearing retirement age now. Currently, roughly 53% of ships in operation are over 20 years old. By 2030, this number is expected to reach 70%. This trend will continue to drive the demand for fleet renewal. On the other hand, the International Maritime Organization’s (IMO) 2030 carbon emission reduction target has further accelerated the replacement of older, less energy efficient ships._" https://www.goldenpineinv.com/en/single-post/revelation-from-shipbuilding-the-power-of-cycles