Container lines “aggressively target” breakbulk and project cargo with 'rock bottom' rates

The aggressive targeting by container lines of the MPV (multipurpose vessel) market with “rock bottom” rates is set to continue, according to Drewry.

In its recently published Multipurpose Shipping Market Review and Forecast 2016, the shipping consultant says the past 12 months have been “dreadful” for the MPV market.

It says weak demand, coupled with falling commodity prices and the oversupply of tonnage in competing sectors, has brought freight rates down to levels not seen since the global financial crisis.

The main competition for MPVs has come ...