A 1.2 billion euro cruise ship contract for an unnamed customer was announced in Europe this week, bringing more hopes the cruise sector is recovering from the pandemic. South Korean orders included a large ferry and a deal for product carriers. Dual-fuel bulkers to modernise a fleet were ordered in China. In the naval sector, environment-friendly coast guard vessels were contracted in Europe. But despite the trend towards more eco-friendly orders, there were warnings the global fleet renewal is too slow with an urgent need to cut pollution. Faced with uncertainty about which fuels to use in the long term to cut greenhouse gas emissions, many shipping companies are retaining their old vessels in service to await new developments.