SHIP CONVERSION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Ship Conversion Market, By Vessel Type (Container Vessels, Tankers, Bulk Carriers, Ferries & Passenger Ships, Offshore Vessels, Naval Vessels, and Others), By Services (Conversion, Repair, Maintenance, Refurbishment, Modernization, Life Extension, and Others), By End Use (Commercial, Defense , Offshore, Passenger Transport , Cargo Transport, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Recent Developments

New product launches

In January 2023, Damen Shipyards, a Dutch defense, shipbuilding, and engineering conglomerate company, launched its Expedition Cruise Vessel ECS design tailored for the luxury adventure cruise segment. The innovative design provides higher passenger capacity along with range flexibility.
In 2022, Hyundai Heavy Industries, a shipbuilding and heavy equipment manufacturer, received an order to build four Liquefied Natural Gas-powered container vessels. The eco-friendly vessel will help reduce carbon emissions for ship owners.
In 2021, Fincantieri, an Italian shipbuilding company, delivered Seven Seas Splendor, an ultra-luxury cruise ship with expanded passenger capacity after its conversion and refitting. The ship provides enhanced onboard entertainment and dining options.

Acquisition and partnerships

In 2022, Al Seer Marine, a maritime solutions provider acquired Bahri Dry Docking, a dry bulk logistics provider, in Dubai to expand its ship maintenance and repair capabilities in the Middle East region
In 2021, Cochin Shipyard, shipbuilding and maintenance facility, partnered with Fincantieri, an Italian shipbuilding company, for technology transfer and joint development of civilian and defense vessels