Executive Briefings

Could It Be 2015 Before Breakbulk, Heavy Lift Cargo Rates Begin to Bounce Back?

Freight rates for breakbulk and heavy lift cargoes still haven't bottomed out and aren't likely to recover until 2015 at the earliest, a leading industry executive said.

Heavy lift rates have fallen to around $90 per ton from $150 two years ago and "could go to $65," according to Fred Bernard Bedford, member of the board of Jumbo Shipping.

Rates are under "considerable pressure" due to a mounting oversupply of tonnage, aggravated by a lack of finance for big industrial and petrochemical projects, Bedford told the BreakBulk Europe conference here.

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Freight rates for breakbulk and heavy lift cargoes still haven't bottomed out and aren't likely to recover until 2015 at the earliest, a leading industry executive said.

Heavy lift rates have fallen to around $90 per ton from $150 two years ago and "could go to $65," according to Fred Bernard Bedford, member of the board of Jumbo Shipping.

Rates are under "considerable pressure" due to a mounting oversupply of tonnage, aggravated by a lack of finance for big industrial and petrochemical projects, Bedford told the BreakBulk Europe conference here.

Read Full Article