Latest news from Heavy Lift & Project Forwarding International Magazine

Shipping boss ponders on industry prospects

October 11 - In a keynote address to delegates of the 2012 Breakbulk Americas conference at the George R. Brown Convention Center in Houston on October 10, 2012, Ron Widdows, CEO of Germany-based Rickmers-Linie, queried when there would be an economic pic

Answering his own question, Widdows admitted: "No one really knows."

There were way too manyships in the market and not enough cargo, he observed. When there would be an improvement in infrastructure spending that translated into cargo was the same story: "We have no idea as a sector on how to figure that out," he said.

In the container sector, recovery would be consumer driven, and "we know how to work that one out", Widdows went on. But on the recovery of the projects market: "We have spent time with investment houses and they have no idea too".

Nonetheless he projected that a growth of 5 percent in the projects cargo market for the next few years "feels about right".

The multipurpose fleet is old and one-third of it needs to be replaced over the next 20 years, Widdows observed. In the heavy lift sector, a "fair sized number" of ships are old. "There will be too much capacity for a while, but this will change as these vessels are withdrawn from service and scrapped."

If fuel prices increaseagain to high levels "there are ships trading today that will go away," he added.

The situation will demand big fleet renewal programmes and the amount of investment required to upgrade the heavy lift and multipurpose fleet would run into "gargantuan numbers" Widdows stated.

But with a lack of funding in place for these replacement vessels, he expects to see a number of newbuild ships being put in the water during the next few years with no owner and "these ships will not make it to market".

Consolidation in the multipurpose sector "is much more likely than in the container sector and this will make for stronger players in the future," Widdows went on.

Concluding, he noted that much more investment wasneeded in order to provide a healthy industry with the capacity it needs for the future.

Heavy Lift | News

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 171
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 347
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 408
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 371

Heavy Lift Across The World

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