News Breakbulk & Project Cargo
Uncertainty is slowing investment in new projects, but MPV operators remain optimistic for the long term. Shutterstock. com
Lars Bonnesen, managing director of Germany’ s United Heavy Lift( UHL), described the current market as“ a bit of a rollercoaster, and it’ s quite difficult to prepare for the future with any certainty.”
Data from Esgian, the Norwegian shipbroker and maritime consultancy, showed UHL and G2 Ocean were among the MPV operators most focused on the US market. Roughly 68 % of UHL’ s ocean sailings last year were on US trade lanes, while for G2 Ocean, 51 % of sailings were between the US and the East Coast of South America, according to an Esgian analysis of route data from last year published in its February market report.
The MSI report said sentiment in the Americas was in“ relative freefall,” while Asian carriers maintained a more positive longer-term outlook.
The One World Shipbrokers’ Market Sentiment Index( MSI) averages the responses from an anonymous group of 20 to 30 MPV owners and operators to a set of breakbulk shipping-related questions. A reading of 50 is neutral, indicating a static market, while scores below 50 show pessimism or wariness and scores above 50 indicate optimism.
email: carly. fields @ spglobal. com email: keithwallis @ hotmail. com
Fundamentals still strong
Despite the uncertainty, the MPV fleet remains largely employed, with both freight and time charter rates at healthy and sustainable levels. While the sale and purchase market for MPVs is currently experiencing difficulties due to valuation gaps between buyers and sellers, quality tonnage is achieving strong rates on the commercial charter market, offering owners a viable alternative to selling.
Looking ahead, MPV operators and owners still anticipate the MSI to be higher in a year’ s time, although confidence in the future market environment has waned over the last three MSI editions.
Bonnesen mirrored the confidence about longer-term prospects.“ I’ m not overly concerned about the current situation,” he said.“ All in all, I feel quite confident. On top of that, our order books are pretty full for the next three to four years.”
A notable MSI development highlighted by Archard is the unprecedented convergence of regional sentiment.
Market uncertainty dents MPV operator optimism
One World Multipurpose Sentiment Index( MSI); an index reading of 50 is neutral, above 50 indicates optimism and below 50 indicates pessimism
Index
56
54 46 5252
50
Apr L Jul Oct Jan 2024 Apr Jul Oct Jan 202525 Apr, 2025
Apr
Source: One World Shipbrokers
Market Sentiment Index
© 2025 S & P Global
L www. joc. com June 2025 | Journal of Commerce 21