Seeking a route through heavy-going conditions

摘要

Times have been tough for the multipurpose and heavy lift shipping sector in recent years. Over-supply of new tonnage, declining demand for transport, and competition from other ship types have put pressure on charter and freight rates for close to a decade. The financial and shipping crisis hit this industry particularly hard. Certain cargoes virtually disappeared. For example, low crude oil prices caused a steep drop of orders from the oil and gas industry. Laid-up vessels, bankruptcies, consolidation and the forced sale of tonnage by creditor banks were among the consequences.