Drewry: charter rates will continue upward trend
Charter ratesDrewry’s Multipurpose Time Charter Index confirms that MPV-operators are experiencing an upward trend in charter rates to beyond pre-pandemic levels. The conditions are expected to at least last as long as the disruptions in the...Read more
Pandemic drives up vessel operating costs
ShippingPRESS RELEASE – Vessel operating costs have risen at their fastest pace in over a decade this year due to higher insurance cover premiums and Covid-19 related expenses. Yet, they are expected to moderate in...Read more
Drewry launches time charter index, rates keep rising
ShippingDrewry has launched the Multipurpose Time Charter Index, which tracks one-year period charter rates across a basket of vessel types and sizes and forecasts the market movement over the coming month. The vessel types include...Read moreCharter rates bounce back a little
Charter ratesThe charter rates for multipurpose vessels have bounced back a little, shows Toepfer Multipurpose Shipping Index. Rates increased slightly in August to USD 6,492 per day for a 12,500 dwt geared vessel.Read more
Drewry: charter rates won’t recover until end of 2021
Shipping outlookCharter rates for multipurpose ships are not expected to recover back to pre-Covid-19 levels until the end of 2021, with the recovery anticipated to take even longer if the global pandemic is not contained, says...Read more
“Project cargo demand stays positive if virus contained by Q4”
Drewry expects demand growth for breakbulk and project cargo to stay positive if the coronavirus is contained by the fourth quarter of 2020. “We expect demand for this year to be on par with 2019...Read more
Charter rates start to slide as coronavirus spreads
Charter ratesThe charter rates for multipurpose vessels are starting to slide as a result of lower demand caused by the coronavirus. The average day rate for a 12,500 dwt MPV/HL vessel dropped with nearly 200 dollars...Read more
Demand growth for multipurpose shipping wiped out by coronavirus
There’s little chance left that multipurpose and heavy-lift vessels will see any demand growth this year following the outbreak of the coronavirus. “Any anticipated recovery will not be sufficient to offset contractions of the first...Read moreCoronavirus likely to hit multipurpose shipping hard too
Amidst the chaos and uncertainty, analysts find it difficult to estimate the exact impact of the coronavirus on the multipurpose and heavy-lift shipping industry but certain is that key markets and competing sectors are heavily...Read more
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
MPV-market expected to grow by 2% despite weakened economy
The fragile global economy has weakened the outlook for the multipurpose shipping industry but despite the challenges and uncertainties, the market is still expected to grow by 2% annually until the end of 2021, forecasts...Read more
Drewry downgrades multipurpose shipping outlook, but still expects growth
Drewry has downgraded its outlook for multipurpose shipping. Weaker projected global economic growth, greater competition from the dry bulk and container sectors, and slower ship demolitions are expected to negatively impact the industry. The ongoing trade...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