The Bradfield Bulletin - 22 August 2025

I'VE BEEN battling a breakout this week that has me reaching for the Clearasil and concealer like a teenager — some things never change! Unfortunately, the shipping industry doesn’t have the luxury of quick fixes.

New data out this week showed the container ship orderbook has surged to its highest level since 2010, with around 31.7% of the global fleet now on order. Experts warn that to neutralise this growth, we’d need to scrap every pre 2010 vessel, a staggering thought and a clear sign that the sector could be staring down a decade of overcapacity.

Meanwhile, freight rates continue to settle. Drewry’s World Container Index dropped 4% this week to $2,250 per 40ft container, marking the tenth straight week of declines. After U.S. tariffs were announced in April, rates spiked sharply through May and June before falling heavily into mid July. Now, the downward trend is easing as the market stabilises.

And on the policy front, transatlantic trade is set for a shakeup. The U.S. and EU finalised a new framework trade deal yesterday, introducing a 15% U.S. tariff on most EU imports, including autos, pharmaceuticals, semiconductors, and lumber.

Finally, we’ve all been watching the fire aboard the Marie Maersk, one of the world’s largest container ships. The 13 August blaze off Liberia highlighted the challenges of managing incidents on vessels of this scale, 399 metres long and 214,000 tonnes. While the fire is largely under control, finding a suitable port for safe offloading remains a significant challenge.

So what else is happening out there?

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Let me know what I have missed!

Today’s stunning photo features the vessel Westport, one of the larger ships calling at Fremantle Port, measuring 336m in length and 43m in width. In this light, she looks absolutely magnificent! Built in South Korea in 2007, she was formerly known as the YM Ultimate.

Happy weekend everyone!