Difficult times ahead for car carriers
The research and data mining company Vessels Value has analysed the development of the demand for maritime vehicle carriers in 2020. Demand globally is down 18% year on year so far.
In detail, some markets (Japan exports and China imports) are showing faster recovery than others (US exports and UK imports). However, there is still a long way to go to get back to pre Covid-19 demand levels, and until that happens, or there is significant increase in vessel scrapping, the vehicle carrier market will remain challenging.
According to information provided by Vessels Value, there is no evidence of a quick recovery with vehicle carrier demand remaining at multi-year low levels, whereas other maritime sectors such as dry bulk have shown sharp V type recoveries in demand. (mw)