News / MPV owners 'making hay while the sun shines', but 'sunset' looms

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A dearth of orders for new multipurpose vessels (MPVs) could lead to a capacity crunch in the project cargo sector when global demand returns post-pandemic.

The sector has been in recession for the past 10 years and daily hire rates have often been below vessel operating costs, but even if owners had the funds to upgrade their fleet, they would likely find shipyards fully booked until 2023/2024.

In sharp contrast to the containership and dry bulk carrier order boom, newbuild orders for ...