In 2025, the multipurpose and breakbulk shipping market was characterized by minimal volatility and a stable and steady behavior of freight and charter rates. It would be easy to call this a rather boring development but given the many economic and (geo)political challenges for the shipping industry and global supply chains, this stability underscores how extraordinarily strong and resilient this niche market is. The foundation of this stability, which was not anticipated, is that the owners and operators in the sector approached the due modernization of the fleet with care and consideration. The orderbook for new multipurpose vessels, and thus the amount of additional tonnage entering the market over the next few years, is relatively moderate (especially compared with the container sector). This creates both challenges and opportunities. Should the Red Sea routes reopen and tonnage miles on one of the major trade routes decline, the segment will be well positioned to meet the resulting challenges.
The outlook for 2026 is optimistic. The fleet will be well utilized, with many high-capacity projects postponed in 2025 due to the various economic uncertainties entering the market in 2026, and some forward bookings and contracts already locked in by carriers. For operators with highly specialized vessels, e.g. super-heavy-lift vessels or vessels with offshore installation capabilities, the situation is even more comfortable: Their fleet is already (almost) fully booked for 2026, and they are focusing on bookings for 2027 and 2028.
I am very happy to continue to monitor and analyze the market in 2026, and I firmly believe that we have a bright and exciting year ahead of us!