Ocean-going merchant ships are now moving slower than ever, with average speeds across the deep-sea cargo fleet reaching a new low in the first quarter of the year, according to Clarksons Research.
Certain sectors, particularly those facing challenging market conditions, have shown the most significant speed reductions.
- LNG carriers, which have experienced historically low rates this year, have slowed down by 2% compared to the 2024 average, moving at 14.6 knots.
- Bulk carriers are now operating at just 10.7 knots, 1.7% slower than last year.
- Product tankers have also reduced their speed by 1.7%, traveling at 11.2 knots.
Slower Speeds, Lower Emissions
A key reason behind these reductions is the environmental benefit. Studies indicate that a 10% decrease in speed can cut emissions from a single voyage by nearly 20%.
“By far the most effective way to reduce ship climate impacts is to slow ships down. A 10% speed reduction can lower the emissions of an individual ship’s journey by almost 20%,” said John Maggs from the Clean Shipping Coalition in a recent article.
Clarksons Research reports that vessel speeds have been on a long-term downward trend, with speeds now down 20-30% since 2008 across most shipping sectors.
Balancing Market Pressures and Sustainability Goals
Shipping companies are reducing speeds not only to lower emissions but also to adjust to market conditions. A weaker freight rate environment has led some owners to slow their fleets in an effort to manage capacity and control operational costs.
Additionally, regulations such as the Carbon Intensity Indicator (CII) are encouraging ship operators to cut emissions, making slow steaming an increasingly attractive strategy for both economic and environmental reasons.
