The global push to decarbonize energy production and improve energy security is supporting optimism in the breakbulk and project cargo logistics sector despite lower-than-expected cargo volumes. Softening rates are good news for shippers, offering some relief and a return to at least some predictability after they endured the feverish COVID spillover market, when capacity-strapped container shippers bull-rushed the breakbulk and project sector looking for shipping space. For carriers, 2023 volumes and rates were disappointing but still heaps better than pre-COVID, and they are looking ahead at increasing demand even as they add little to no new capacity. This hardly guarantees smooth sailing for the carriers, however. Congestion remains an issue. Many multipurpose and heavy-lift carriers have been forced to find alternative routings to the drought-stricken Panama Canal, adding time and costs to voyages just as risk escalates in the Arabian Sea and the Gulf of Aden. And we have all learned that new, unpredictable challenges could be lurking right around the next bend.

This webcast will analyze the 2024 breakbulk and project outlook, the state of the fleet, the competition, new buildings, and other looming threats and opportunities.

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