Grim outlook for heavylift sector hit by too many speculative orders

Grim outlook for heavylift sector hit by too many speculative orders

SAL Heavy Lift, the German subsidiary of Japan’s K Line, admits it has witnessed a tough 2015 and foresees a challenging 2016.

“[T]he low oil price created a steep downturn in the global offshore industry as well as leaving many projects deferred or cancelled,” the Hamburg firm said in a release.

“SAL foresees a continued challenged market in 2016 and predicts project carriers will have to toughen up to be capable of withstanding the fights that will inevitably come,” the carrier warned.

SAL’s coo, Toshi Yamazaki (pictured), hit out at his rivals for ordering ships speculatively. “It is my opinion that many have been built without thoughtful consideration,” he said.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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