Hopes that multipurpose freight rates would firm up towards the end of 2019 are slowly slipping away, with maritime consultancy Drewry now predicting that there will be little improvement before 2021. Despite the bleak outlook, there are reasons to be hopeful. Project cargo volumes are expected to improve over the second half of 2019, as a number of projects get to the cargo-carrying stage. Operators of more modern, heavy lift ships should be able to secure improved rates moving forwards. If Drewry’s expectations for trade wars are correct and actual cargo demand issues are limited, there is hope that container lines will focus on their core services allowing the multipurpose fleet to take back more market share. The effects of the trade war between the USA and China continue to be monitored closely by the logistics community. The spat has been cited as a key reason for China’s slowest economic growth in 27 years.
Elsewhere future freight transport demand in Africa is expected to grow in international trade, which analysts suggest could increase sevenfold over the next three decades. Some African countries are already pressing ahead with large-scale transport projects and investment in the construction of roads, bridges and railways is expected to grow rapidly by 2020.
Furthermore, renewable energy is gaining traction across the world, which is expected to encourage growth in the global Offshore Wind Power Market. Germany, Denmark, China, and the U.S. are some of the leading nations in the renewable energy sector. These countries are expected to witness rising investments in offshore wind power projects. The market in Asia Pacific is anticipated to grow at a considerable rate owing to the overall economic growth. In addition to this, massive wind power potential in countries such as Indonesia, China, and Australia are expected to register growth opportunities by 2025. Other regions such as Latin America, North America, and the Middle East & Africa are likely to remain strong in the forecast years.
Next year’s GPLN Annual General Meeting has been announced during our recent annual conference in Bremen and will take place from May 31 to June 2, 2020 at the Luxury Hyatt Regency Hotel in Casablanca, Morocco, just after Breakbulk Exhibition in Bremen. More details will be announced in September, but in the meantime please mark the date for our next annual conference.
From October 2-4, 2019 we will exhibit at Breakbulk Americas Transportation Conference and Exhibition which takes place again in Houston, Texas. Following GPLN members will finally join our GPLN booth and are available for meetings: Agence Maritime Mohab/Tunisia, FOX Project Logistics/Brazil, Green Worldwide Shipping/USA, ITM Transportation/Mexico, Logistics Plus/Turkey, M&B Cargo/Uruguay and Wirtz Link Services/China.
We are looking forward to meet those who join or visit our GPLN booth #M15 at George R. Brown Convention Center during this event.
