Drewry expects double-digit growth in charter rates for larger ships
The outlook for the multipurpose shipping industry is brightening. Despite the rising geopolitical risk and economic uncertainty, Drewry forecasts that average earnings for breakbulk and heavy-lift shipping companies will rise 6% in 2020 and continue...Read more
Höegh Autoliners ships six 32-tonne breakbulk units
Höegh Autoliners has shipped six large multimedia filters for an offshore project on modified trailers. Four units were shipped on a double-wide concept, while the other two units were placed on a trailer with beams...Read more
Siemens Gamesa to buy onshore wind business of insolvent Senvion
Onshore windSiemens Gamesa will acquire the European onshore wind service business from Hamburg-based wind turbine manufacturer Senvion, which filed for insolvency earlier this year. The purchase agreement has a value of EUR 200 million and includes...Read more
Project carriers face increased competition from ro/ro companies
The project cargo industry faces increased competition from car carriers as the sector struggles with slow growth rates and political uncertainty in the car business. Companies like Wallenius Wilhelmsen are working hard to expand their...Read more
Baltic Dry Index reaches highest peak in more than five years
Dry Bulk IndexThe Baltic Dry Index on Monday reached its highest peak in more than five years. The index grew by 3.4% to 1,928 points, its highest point since January 2014. In the past month, the index...Read more
Heavylift shipping outlook hurt by slowing world trade
Shipping forecastRising project cargo traffic will strengthen freight rates for the multipurpose and heavylift shipping sector throughout 2019, but prospects thereafter are muted by an anticipated slowdown in world trade, says Drewry Maritime Research. Although the uncertainty...Read more