ShippingWatch

Analyst agency: Project cargo set to go from bad to worse in 2017

The ailing multi-purpose and heavy lift sector could tumble further down next year, for which very few contracts have been signed so far, according to assessments from operators. Drewry downgrades its already weak forecast.

Extremely low freight volumes in relation to the supply of ships, and very few contracts in 2017 for owners and operators in multipurpose and heavy lift, threaten to throw the whole global sector for project cargo into its worst ever crisis next year, note participants in comments to ShippingWatch after one of the biggest industry conferences this year, Breakbulk Americas, held recently in Houston.

The gravity of the situation is confirmed by a new analysis of the multi-purpose sector from analyst agency Drewry, which downgrades its already negative projections from earlier this year with negative growth in the industry in 2016 and 2017 before any trace of weak improvement in 2018.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

OECD downgrades growth forecast for global economy

The global economy is still growing, though it's losing momentum, according to the latest growth estimate of the OECD's Economic Outlook. Bottlenecks in the shipping sector and elsewhere as well as pressure on supply chains have contributed to rising inflation.

Norden reshuffles management and dials up growth ambitions

Norden establishes a new business structure and a new senior management team. This will entail increased growth in the carrier's tanker pool and investments in port logistics for an annual USD 20-40 million, CEO Jan Rindbo tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs