BBC Chartering: The project cargo market collapsed

It looked like a huge boom for project and heavy lift vessels in the first half of 2015 but the freight volumes trickled right out of the market, says Svend Andersen, CEO of BBC Chartering, the world's largest operator in the segment.

The global market for project cargo and heavy lift collapsed in August and throughout 2015 with weak volumes and thus too many vessels in the market, following six months which had seemed so promising.

That is the conclusion from CEO Svend Andersen at German BBC Chartering, which has a fleet of about 150 vessels placing the carrier as the world's largest operators in the multi-purpose segment. The first months of 2015 provided a much-needed boost for the struggling multi-purpose and heavy lift market, and until August things were more stable in that period than had been the case for the past 3-4 years. But this recovery turned out to be fragile.

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