Shortage of ships and offshore wind boom prompt sense of calm for major MPP carrier

”The prevailing pressure drivers on the market indicate so far that we are not heading as yet to a hard landing,” predicts Kyriacos Panayides, managing director at MPP carrier AAL. On the contrary, the market for special cargo looks promising with demand from oil, gas, coal, and wind. Limited supply and few newbuilds are further contributing factors.

”It is a pleasure to see that all the carriers despite the fact that they have accumulated significant results nowadays they have not followed the missteps of the past where ordering of new ships had accelerated to a level that threatened the long term balance of demand and supply,” says Kyriacos Panayides, managing director, AAL Shipping. | Photo: AAL

The world economy is under pressure from inflation, the Covid-19 pandemic, and an energy crisis, all affecting the shipping industry. However, for the multi-purpose market (MPP) for heavy-project cargo, the risk of a hard landing is limited with the current market trends.

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