Heavy lift shipping faces choppy waters

摘要

Due to the long-term nature and complexity of the projects undertaken by heavy lift shipping operators, contract lead times tend to be substantial. With many industrial projects postponed during the economic crisis, charters started to dry up once the back-log was contracted. This has not been helped by a surge of newbuildings flooding the market which has depressed rates, particularly on the spot market. However, there has been an increase of new projects recently, particularly in the commodity and energy sectors, and it is reasoned that the current depressed market is only temporary.