Drewry Says Scrapping Younger Containerships Will Help Rebalance Supply and Demand

By Mike Wackett (The Loadstar) - Drewry has urged containership owners planning to scrap older vessels this year to “get a move on”. The number of vessels scrapped last year fell to an eight-year low, adding to the overcapacity issues blighting the liner industry and the maritime consultant said: “It would certainly help the supply-demand balance if more at the top end of … [Read more...]

Is DP World’s ‘One-Stop Shop’ Ambition Too Risky?

By Mike Wackett (TheLoadstar) DP World’s planned acquisition of European shortsea container line Unifeeder took the industry by surprise when the deal was announced earlier this month. The rationale for the global port operator’s proposed $765m purchase of North Europe’s leading feeder and domestic container carrier from private equity group Nordic Capital has had analysts … [Read more...]

Drewry: Shipping’s Recovery Not Enough to Lift Seafarer Wages

(Drewry) - Despite a recovery in cargo shipping markets, ship manning costs will remain suppressed as shipowners and operators continue to be financially challenged and the officer shortfall recedes, according to the latest Manning report published by global shipping consultancy Drewry. The lack of confidence in the industry has seen wage increases almost at a standstill … [Read more...]

Drewry: Multipurpose Shipping Market to Strengthen on Growing Demand

(Drewry) - Many key drivers for dry cargo demand have reported a significant uptick in 2017, resulting in improving conditions for all vessels in the multipurpose shipping sector, according to the latest Multipurpose Shipping Market Review and Forecast report published by global shipping consultancy Drewry. This year started out well with most demand drivers for the … [Read more...]

Container Lines Praised for Capacity Management Skills

By Mike Wackett (The Loadstar) - Ocean carriers have this year shown themselves to be “well-skilled” in the art of capacity management, according to a Drewry report. It attributes their success in lifting rates to their ability to juggle supply-demand peaks and troughs. Drewry’s Global Freight Rate Index was 37% higher in the first five months of this year than in the … [Read more...]