ShippingWatch

Heavy lift industry facing large-scale consolidation

Extensive consolidation in the global heavy lift industry is underway and will presumably materialize in the coming months, several industry sources tell ShippingWatch. Heavyweights BBC Chartering and SAL Heavy Lift can play a key part in the resolution of the ailing industry's future.

Dramatic changes seem to be underway among the major owners and operators in the specialized shipping sector for heavy lift and project vessels centered around Germany's Hamburg area, several central industry sources tell ShippingWatch.

The entire international market for specialized cargo, which is particularly dependent on oil and gas as well as in infrastructure projects around the world, has been struggling in recent years. Along with the traditional bulk industry, the sector is currently in the midst of the worst crisis ever due to a major oversupply of vessels and insufficient freight volumes.

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