Breakbulk News

Weak construction and manufacturing demand, inflation fears and continued economic uncertainty are weighing on global steel volumes, a key commodity for multipurpose vessels.

The wind energy industry must resolve a number of supply chain issues or it has little chance of reaching the US’ 2030 goal for energy generation from onshore and offshore wind.

Longer term, global vehicle sales are expected to exceed pre-pandemic levels from 2024 onward, while high and heavy volumes are also expected to remain strong.

The carrier did not disclose the value of the vessel order, but shipbroking sources estimate the price of each ship at $140 million to $150 million, based on their size and multi-fuel capability. 

Although the multipurpose vessel market is expected to further soften on weak charter activity in the third quarter, firmer demand is expected by the end of the year, keeping certain sectors of the market — mainly, project carriers — optimistic, analysts said.

The joint venture will increase Cosco’s fleet to 18 heavy-lift semi-submersible vessels by the end of 2023.

A rigorous hunt for seeds and pollen is disrupting vehicle and high & heavy imports into Australia, leading carriers to pull back on services.

New and expanded auto imports landing at the Northwest Seaport Alliance come as carriers take advantage of its proximity to Asian ports during a time of scarce ro/ro tonnage.

The fall hid some upbeat trends, with the number of refrigerated containers rising more than 10% in the first half and the rate of decline in overall volumes easing in the second quarter.

Breakbulk ro/ro shippers are hunting for solutions as carriers deal with high vessel charter rates, tight capacity and port congestion.

Brunswick’s growth comes amid rising automotive production, pent-up consumer demand and an easing of the semiconductor shortage that occurred during the pandemic.

Expected demand for wind cargo, among other factors, is still driving underlying optimism in the MPV sector, but a wind turbine tech “arms race” could cast a long shadow.

If the reefer mode can tough out the rest of 2023, next year should be better for operators largely because there will be more cargo, and therefore demand will be stronger, writes analyst Richard Bright.

Persistent demand from existing customers and expected growth in global demand for heavier electric vehicles are spurring fresh investment in ro/ro newbuildings from Sallaum Lines.

William Doyle’s departure after three years, announced to Maryland Port Administration employees Friday according to local news reports, came less than a week after he received three traffic citations.

The merger of wind installation vessel operators Cadeler and Eneti, which already have a combined project backlog worth $1.75 billion, was driven by an expected surge in offshore wind farm projects through 2030, Cadeler CEO Mikkel Gleerup told a webinar Friday.

Rising auto and heavy equipment sales are keeping roll-on/roll-off vessels at maximum utilization, and the CEO of Wallenius Wilhelmsen warns the market will remain tight for years.

The deal made by the carrier highlights the challenges of securing the supply of green methanol from a global market that is in its infancy.

Sentiment is more positive in the longer term, with industry observers predicting a rebound in rates from 2024 onwards due to stronger cargo volumes and tight tonnage supply.

Changes at Maersk and Combi-Lift reveal interest in capturing a larger share of the project forwarding market.

Two stevedoring companies are looking to the Federal Maritime Commission to stop what they say is an unlawful access fee at the Port of Baltimore after one of them was invoiced $1.2 million.

Norden is looking to capitalize on an expected strong project and breakbulk market with the purchase of Denmark-based multipurpose vessel (MPV) operator Thorco Projects.

Vineyard Wind is one of the first commercial-scale offshore wind projects under construction in the US and at completion will generate some 800 megawatts of power.

The drive to decarbonize European inland transport by switching freight from the road to greener alternatives took a step forward this week.

Visionary shipping legend Bertram Rickmers created the Pearl String, the only round-the-world breakbulk liner service, which operated from 2003 until the fall of Zeamarine in 2020.

deugro and partners Siemens and Amasus will build and deploy two specialized offshore wind ro/ro vessels able to accommodate increasingly large wind turbine components.

Quarterly earnings reports reveal that wind turbine manufacturers are slowly recovering from a pandemic market battering as orders and revenues ramp up.

Global vehicle manufacturers are still recovering from widespread semiconductor shortages, while domestic automakers and body shops face ongoing delays in components ranging from rear suspensions to front bumpers.

Traditional 3PL provider CEVA plans to lease four new hybrid ro-ro vessels chartered by parent company CMA CGM.

Multipurpose and heavy-lift carriers expect short-term rate pain but a rising market further out, analysts say.

Cargoes “unboxed” during the pandemic market are sliding back to container carriers on the hunt for volumes to fill their ships, while excess containers on MPV ships have disappeared.

Tim Kopfensteiner will become president of MPV carrier BBC Chartering’s US operations following Per Petersen’s retirement later this year.

Human intervention is necessary to ensure that AI is adapted into shipping in a measured way, as quality decisions are dependent on quality data, attendees at the Journal of Commerce’s Breakbulk and Project Cargo Conference were told.

As funding opportunities expand, energy security concerns force investors to reevaluate their priorities, attendees at the Journal of Commerce’s Breakbulk and Project Cargo Conference were told.

Breakbulk and project cargo carriers are likely to take their cue from container carriers before committing to building alternative fuel ships to meet aggressive carbon reduction mandates, experts say.

BIMCO’s head of Americas called for changes to the Carbon Intensity Indicator that would make the new regulation from the International Maritime Organization “fit for purpose.”

An advanced sense of “pragmatism” is needed for shippers and nations to cope with changes wrought by war and climate change, attendees at the Journal of Commerce’s Breakbulk & Project Cargo Conference were told.

Multipurpose carrier analysts report short-term rate softening and a looser spot market, but there is confidence in longer-term energy and renewables demand.

Breakbulk volumes are normalizing at Houston after the market surge of 2022, while “spillover” containers have disappeared.

Vehicle demand is expected to offset declining high-and-heavy volumes in 2023, according to car carriers.