The multipurpose shipping market is expected to see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to shipping consultancy Drewry.
Dry cargo demand is weak but strengthening with multipurpose shipping market share expected to grow at just under 2% per year to 2020. Demolition levels are up in both the multipurpose and competing sectors, while newbuilding ordering has waned, which will result in minimal aggregate multipurpose fleet growth to 2020, Drewry said.
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