NEWS
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WORLD NEWS ROUND-UP Investment is on the up, in spite of the constrictions of the pandemic, but the industry has felt the effects of covid-19 in many other ways
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he charter market for multipurpose vessels (MPVs), including both breakbulk and project cargo carriers, is expected to remain strong through 2022, supported by the continued prevalence of covid-19 and the resultant global supply chain disruption, according to consultants Drewry. However, Drewry says that charter rate inflation will be checked by slowing cargo demand growth and expanding capacity in the competing fleets of dry bulk and containerships from 2023, according to its recently published Multipurpose Shipping Forecaster. “It is clear that 2021 consolidated our belief that the charter markets for containerships and dry bulk carriers have as much of an effect, and sometimes more, than the pure economics relating to the MPV fleet,” the report says. “Although it was not always clear that weak charter rates pre-2021 were exacerbated by the competing fleets driving them lower, it has been very apparent that the current booming market is underpinned by even higher rates in these other sectors. “The demand for MPV tonnage, from both breakbulk and project cargo, rose
by almost 9% over 2021, following a drop of 2.5% in 2020. Although the majority of this increase is accounted for by stronger global dry cargo demand, a significant element of it is also down to improved market share for the MPV fleet. As the well-documented supply chain problems have caused unprecedented capacity constraints for the container sector, breakbulk cargoes have returned to the MPV fleet as shippers struggled to secure cargo space.” Capacity constraints are expected to last well into 2022, Drewry adds. “The New Year has started with a number of reports of MPV vessels carrying cargoes usually associated with containers, such as bagged coffee. “With the Chinese government’s zero tolerance covid-19 policy continuing to put port operations at risk, even as the rest of the world considers the Omicron variant to be less threatening than initially feared, the supply chain issues are far from over.” There has also been a significant increase in consumer demand over the past 12 months, as public health restrictions have led to a switch of spend from services to consumer goods, the consultant adds.
port boost for libya US-based The Guidry Group has signed an agreement with Archirodon Construction (Overseas) Company setting the main terms of its co-operation for the design and construction of the US$1.5bn Susah Secure Port in Libya. The Susah Secure Port, conceived as a multi-use port, will be the deepest water port in Libya, the first public-private ownership port project to be undertaken in the country, the first port to be built to a globally competitive and efficient standard and the largest port infrastructure investment by a US company in Libya’s history. The Susah Secure Port project is critical to the rebuilding of Libya and was recently endorsed by the Libyan Government of National Unity. It will provide a secure means of trade for international companies and governments and become a centre for economic development for Libya. There is an expectation for greater US involvement in the development of Libya, with the Susah Secure Port being the a first step in the right direction. The Port of Susah is located about 240km east of Benghazi in Eastern Libya. The seaport in Susah serves as the main
BULK TERMINALS
international | WINTER 2021-22
