Breakbulk &
Project Cargo
Breakbulk Fleet Update
www.joc.com September 2022
|
The Journal of Commerce 7
ALTHOUGH MULTIPURPOSE/HEAVY-LIFT
(MPV/HL)
carriers are seeing strong
demand and earning better rates than
they have in years, newbuilding vessel
orders remain scarce, and industry
executives say tonnage could be in short
supply within a few years.
Even beyond infl ated newbuilding
costs and a shortage of shipyard slots for
MPV construction, carrier executives
and analysts say lack of transparency,
di culty accessing fi nancing, uncer-
tainty about coming regulations, and
still-painful remnants of the MPV ship-
ping crash that began in 2008–09 are
holding back newbuilding orders in the
sector. Players with deep pockets — or
access to the deep pockets of others —
have a strong advantage, but even so,
making multi-million-dollar bets on
new ships is a risky proposition in this
opaque shipping segment, particularly
in a constantly changing regulatory
environment.
Investors skittish on
ordering MPV/HL
newbuildings despite
strong cargo demand
By Janet Nodar
Average prices for
a new 12,500-dwt
geared MPV have
ballooned from
$19.5 million in
2015 to $31.5
million in 2022.
dship Carriers
