The multipurpose shipping market is not expected to recover until the end of 2017, when it is anticipated that there will be more bulk demand for the Handy vessels and therefore more breakbulk cargoes for multipurpose vessels, according to the latest Multipurpose Shipping Market Review and Forecast 2016 report published by global shipping consultancy Drewry.
Liner schedule reliability fell to its worst level in 12 months in February when the average on-time performance slipped by 7 percentage points to 62.7 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.
The World Container Index's composite index, an average of spot freight rates on 11 global East-West routes connecting Asia, Europe and the U.S., reached a record low of $701 per 40-foot container recently.
Drewry, the global shipping consultancy, has carried out a simulation study of the operational and financial impacts on lines, terminal operators, ports and other supply chain stakeholders as vessel size increases up to and beyond 18,000 TEU (twenty-foot equivalent units, the standard metric used to measure a ship's cargo carrying capacity). The study results suggest that the economies of scale, that have been a key feature of the liner industry, may be running out.
Tanker shipping freight rates are expected to remain firm in the first few months of 2016, but with the influx of tonnage these rates are expected to soften towards the end of the year, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.
Container service reliability started 2016 on a disappointing note as the average on-time performance slipped by 5.7 percentage points in January to 69.6 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.
On the back of low bunker prices and more newbuildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes will be under pressure throughout 2016, as there are some new operators looking to break into the long-haul trade routes, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.
LNG shipping earnings will remain under pressure in 2016 as accelerating fleet growth and changing trade patterns will weaken supply-demand conditions, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry.
Dry bulk shipping is facing a perfect storm and requires drastic supply side measures if the industry is to return on course to profitability in the medium term, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
