As our members may know, we have secured a special collaboration with Drewry Maritime Research to provide us with a short presentation periodically.

The latest issue is now available on the Head Office Notices page in the Members Area.

The presentation, for circulation between PCN Members, includes:

• MPV Fleet age profile by vessel type as at June 2017
• Fleet development by vessel type to 2019
• Development of dry cargo demand (million tonnes)
• Development of MPV market share (million tonnes)
• Growth in fleet vs. Growth in demand (%)

According to this latest report, 2017 is expected to show improvement by the end of the year for the multipurpose shipping market and 2018 will see slow recovery over the year with 2019 improving optimism.

Factors affecting the forecast include:

• Global trade growth is improving for the bulk commodities on the back of improving economic growth
• Competing sectors are seeing some upturn in both demand and rates
• Total MPV fleet supply forecast growth at just 0.3%pa but the project carrier segment is much stronger at almost 3%pa over the period
• On the downside, project cargo demand lags breakbulk demand and has yet to see significantly positive indicators for medium term growth

Keep going and have a great week!