Latest news from Heavy Lift & Project Forwarding International Magazine

Drewry remains optimistic on multipurpose recovery

During a webinar earlier this week looking at the latest trends and outlook for the multipurpose shipping market, covering both breakbulk and project cargo sectors, Drewry repeated its optimistic forecast for the sector, predicting further rec

Susan Oatway, Drewry's lead analyst for the multipurpose sector, said this optimism was based on rising demand trends, contracting vessel supply and lessening threats from competing sectors.

Oatway says: "The fundamentals are there (growing demand, contracting supply). The fly in the ointment is always the competing sectors but here too things are looking better. So there is definitely scope to get this market off rock bottom."

She added that whilst demolition levels are still historically low, the multipurpose fleet is contracting as older, smaller, less heavy lift-capable tonnage, which has an average age of over 21 years, is scrapped, adding that new IMO rules on emissions and ballast water will encourage this trend.

However, whilst Drewry sees overall vessel supply moving closer toward balance, the true picture actually has a vast number of simple older vessels weighing the supply side down. "So we have some way to go before we are free of this overtonnage situation," says Oatway.

Asked whether shippers of commodity cargoes that have made a long-term switch from breakbulk to containers will ever return to multipurpose ships, Oatway predicted that where investment has been made on port infrastructure and the logistics chain, there will be no switch back.

"When we talk about the multipurpose market share (of the drybulk cargo market) we do not see it increasing back to pre-2007 levels. Multipurpose volumes only really increase when overall volumes rise."

Speaking about rates, Oatway says that Drewry believes a steady growth of around 2-3 percent per year is possible over the forecast period, with demand growth expected to improve by 0.5 to 1.0 percent over the same period.

If you would like any more information on the material presented on Drewry's new Multipurpose Shipping Annual Review and Forecast 2018-19 report visit this website:

https://www.drewry.co.uk/maritime-research-products/multipurpose-shipping-annual-review-and-forecast-2018-19?utm_source=newsletter&utm_medium=email&utm_campaign=MPV%20webinar 0.000000ollow 0p%20April%2018

www.drewry.co.uk

Heavy Lift | News

Bolloré and Cosco strengthen ties thumbnail image

Bolloré and Cosco strengthen ties

February 15 - Bolloré Transport & Logistics and Cosco Shipping Lines have signed a memorandum of understanding (MoU) to strengthen their commercial relationships, while exploring new opportunities for cooperation in transport, logistics and port infrastructure.
Views: 455
CMA CGM launches Ceva takeover thumbnail image

CMA CGM launches Ceva takeover

February 14 - France-based container shipping giant CMA CGM launched its USD1.65 billion public tender offer for Switzerland-headquartered Ceva Logistics on February 12.
Views: 550
Seafox 5 turns Blue thumbnail image

Seafox 5 turns Blue

February 14 - Fred. Olsen Windcarrier has renamed the jack-up vessel Seafox 5 to Blue Tern.
Views: 440
End in sight for Hansa Heavy Lift thumbnail image

End in sight for Hansa Heavy Lift

February 12 - Dr. Christoph Morgen, preliminary insolvency administrator of Hansa Heavy Lift, has confirmed that the Hamburg-headquartered shipping line "will no longer have a business model at its disposal from March 2019 onwards".
Views: 1234

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.