Still wary after a protracted slump, project cargo stakeholders are wondering if they should trust growing signs of better times ahead. Rising oil prices, a filling project pipeline, and hard-won project efficiencies are good news for oil majors, EPCs, manufacturers, and other shippers. Multipurpose/heavy-lift vessel operators, in no hurry to add new capacity, are finally seeing freight rates tick upwards, while the International Maritime Organization’s global low-sulfur mandate, coming into effect in January 2020, is likely to shrink the fleet further. The uncertainties triggered by unpredictable trade policies and slowing global economic growth may prevent complacency in the near term, but oil prices are expected to settle at a livable $70 per barrel by 2020. Longer term, the project construction and transportation sectors can expect power generation to grow in importance over the next two decades as emerging nations, particularly those in Asia, shift toward light industry, service economies, and digitization. The offshore wind market is attracting global interest, while US wind developers are racing to get ahead of expiring tax credits.
This webcast will analyze the key issues breakbulk and project shippers will confront in the year ahead.
Moderator: Janet Nodar, Senior Editor, Breakbulk and Project Cargo, JOC, Maritime & Trade, IHS Markit
Speaker (s): TBC
Interested in sponsoring this webcast? For more information, please contact Tony Stein at Tony.Stein@ihsmarkit.com