High Tide: An MPV Carrier Roundtable
Wind energy, restarting oil and gas projects, climbing bulk cargo prices, and an unbalanced container shipping supply chain are combining to ramp up breakbulk shipping demand and push multipurpose and heavy-lift freight rates to long-unseen levels, much to the chagrin of project and breakbulk shippers. Forward bookings stretch into the fall, something not seen in this sector for many years. Still, late-COVID issues such as port congestion and the crew change crisis continue to complicate shipping, while lingering overcapacity, limited financing options, and a lack of clarity around low-carbon fuels put a damper on investment. Although breakbulk carrier executives don't think the current hectic market will last, some see reasons for continued optimism. This panel of carrier executives will discuss the positives and negatives that continue to unfold in the late-COVID breakbulk market.