Shanghai: Breakbulk market demand is expected to grow in the coming year and the market remains steady despite challenges, Tina Liu, country manager China for Drewry Maritime Service told delegates at the Breakbulk China conference in Shanghai.
According to Liu, demand for the sector continues to grow for both breabulk and project cargo. Growing global crude steel production is one of the main demand drivers for the market, and there is also growing demand from selected forestry products.
“MPV share of project cargo is estimated to be growing faster than for breakbulk cargo in the short term at least,” Liu said, adding that premium project carrier is getting more popular, however, project cargo is expected to be adversely affected by lower oil prices.
“The MPV market is quite healthy at the moment, fleet development and scheduled demolition are pretty much at the same level,” Liu said.
Liu expects new investment will come into project carrier fleet development with eco designs and high specification vessels.