Although demand growth is expected to recover after a very poor 2015[ds_preview], and supply growth is likely to be minimal, competition from other sectors will maintain pressure on the breakbulk shipping market, according to the latest Multipurpose Shipping Market Review and Forecaster by consultancy Drewry.
Further container shipping penetration into the project market and handy bulk carrier penetration into the breakbulk sectors are expected, resulting in reduced market share for the multipurpose fleet. While demand is growing due to competition from other shipping sectors, the multipurpose fleet share is only expected to reach average annual growth of 1.4% over the same period.
Meanwhile, the project carrier fleet is growing at a much faster rate than the simpler multipurpose fleet and vessel technology is improving every year, whether in terms of lift capacity or design. The sector’s ability to innovate will be critical to its future.
