News / MPV and heavylift sector facing mid-term headwinds as global trade slows

The multipurpose vessel (MPV) and heavylift shipping sector is set for 3.8% growth this year, declining to 1.4% in 2020, as the global economy slows and competition for cargo grows, according to Drewry. 

The maritime consultant said the sector would see “strengthening rates through 2019 fuelled by rising project cargo traffic, but prospects thereafter are muted by an anticipated slowdown in world trade”. 

Acknowledging that the trade dispute between the US and China appeared to be “moving toward some kind of a truce”, it added that the global economic ...