Drewry Report Marks General Cargo Decline

A new report published by Drewry Shipping Consultants reveals the general cargo trade fell some 13 percent during 2009 after a 3 percent increase in 2008.

As a result, demand for multipurpose vessels declined 19 percent in 2009. Shipowners and managers are expected to experience uncertainty in 2010, but growth should start to pick up next year, continuing steadily at least until 2014, according to Drewry’s Multipurpose Shipping Market 2010, the UK-based industry analyst’s latest briefing report on the multipurpose shipping market.

The report provides a comprehensive analysis of the current state and future prospects for this sector.

It contains: strategic demand/supply forecasts projected to 2014; trade analysis for major commodities including steel, grains, coffee, sugar, and project cargoes; fleet profiles detailing age comparisons, updated order books, operator news and technical innovations and market dynamics with latest rates, competitive market trends and projections.

Project cargo is seen as an area for future growth although this will depend on export performance from China.