MPV/HL's situation to improve - long term
London (UK)-based maritime analyst Drewry said in its latest forecast for multipurpose and heavylift (MPV/HL) shipping that if the measures against the coronavirus (COVID-19) cease by 4Q/2020, the demand growth for breakbulk and project cargo will continue, but remain weak or even very weak.
This development is linked with the scenario that global economic recovery will begin in 4Q/2020. Until then, the oil market crash will take its toll. The other key driver for the MPV/HL sector is the competition effect and the continued encroachment by container and bulk carriers into the breakbulk and project cargo space.
As a result, Drewry expects MPV/HL cargo demand growth to stagnate in the two years to 2021, growing at an average annual rate of just 0.3%. (mw)