Business still booming for car-carriers, but headwinds on the way

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Automotive shipping is still on the up, having hit a low point in 2016, further gains are expected, thanks to improving utilisation levels, according to Drewry.

Shipping of finished vehicles grew 6% last year, but there has been a dearth of orders for new car-carrying vessels, reports the analyst.

Head of car carriers at Drewry Tom Ossieur said: “Despite improving utilisation, owners and operators are holding off acquiring capacity through ordering or chartered tonnage, as trade uncertainty weighs on the market.”

During the first half of this year, ...