2017 Breakbulk & Project Cargo Report: Where Is the Market Heading?

Like its container shipping cousins, the shipping lines that operate multipurpose ships carrying breakbulk and project cargoes are suffering from overcapacity, lack of global demand and low freight rates. And like the container ships, multipurpose vessels are getting ever larger. That makes the few bright spots around the globe — the Middle East, parts of the U.S. Gulf and China — even more critical for multipurpose ship operators and the heavy-lift industry. In short, it will take some time for global cargo demand to catch up to the glut of multipurpose vessel capacity that carriers ordered when demand was stronger. But the breakbulk/project cargo sector is a complex market encompassing commodities such as steel, natural rubber and forest products; heavy-lift shipments including turbines and refinery equipment; oversized equipment such as energy-generating windmills, and project shipments for construction work, and demand can vary widely by commodity and region. Indeed, those carriers operating the 900 or so multipurpose ships that qualify as project carriers — with lifting capacity of more than 100 tons — or those that operate premium ships capable of lifting more than 250 tons are faring better. That’s because they can carry the increasingly heavy cargoes for large construction projects common in emerging markets, in addition to standard breakbulk commodities such as steel and aluminum. But competition is stiff, and not from just within the breakbulk industry, but increasingly from traditional bulk and container shipping carriers. How heavy-lift and project carriers respond to these growing capacity and competitive issues will determine the course of the industry over the next 12 months.

This webcast will examine the outlook for breakbulk/project cargo shipping and the economic and other issues driving the market direction.

Moderator: Joseph Bonney, Editor, Breakbulk and Project Cargo, JOC, IHS Maritime & Trade

Speaker: Susan Oatway, Assoicate, Drewry Maritime Research 

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Interested in sponsoring this webcast? For more information, please contact Tony Stein at Tony.Stein@ihs.com

 

Thursday, February 23, 2017 - 11:00