News Breakbulk & Project Cargo
A 55 % decline in Suez Canal transits since December is segmenting the MPV fleet . BBC Chartering
Yorck Niclas Prehm , head of research at Toepfer , said he expects the index to continue moving “ sideways .”
“ Our TMI panelists support this view , with the TMI-P6 indicating a total expected increase of only 2.26 % over the next six months ,” he told the Journal of Commerce .
Prehm said he believes that decisions on some upcoming projects are being postponed until after the US presidential election and that the geopolitical situation as well as the macroeconomic situation do not indicate any “ game-changing trend .”
Archard said those dynamics make it difficult for MPV operators to plan for the coming months .
“ There isn ’ t a clear pathway forward ,” he said . “ Everybody seems to be being buffeted by the winds of geopolitical events .”
The lack of clarity is impacting MPV operators ’ fleet investments , reinforcing the dearth of ship orders , Archard added .
“ Carriers are generally hard-wired optimists , but nevertheless , they ’ re not ordering any ships ,” he said . “ Freight rates are good , and nobody ’ s going to go broke in this business , but a lot of companies are still repairing balance sheets after a 10-year recession and they ’ re having to fight very , very high shipyard prices , high steel prices , very limited availability and no financing .”
Rising fleet utilization is reflected in both newbuild and second-hand MPV prices . Second-hand prices for a 30,000-dwt , 120 / 160t max lift , 10-year-old MPV / tweendecker increased 2.6 % month over month to $ 19.5 million in October , according to Toepfer . Newbuilding prices for the same type of ship ticked up 0.5 % to $ 52.75 million .
“ There are very few second-hand transactions for modern MPP ( MPV ) vessels , and prices continue to be challenging for buyers ,” Toepfer said , adding that strong demand for newbuilding capacity from other shipping segments led to a “ slight but significant ” increase in newbuilding prices and extended delivery times .
email : carly . fields @ spglobal . com
Taking the helm
Former Mobile executive to lead Port NOLA By Janet Nodar
Beth Ann Branch , former chief commercial officer of the Port of Mobile , has been named president and CEO of the Port of New Orleans ( Port NOLA ) and CEO of the New Orleans Public Belt Railroad , effective Dec . 1 , the Board of Commissioners of the Port of New Orleans announced Oct . 24 .
Branch will take over from Executive Vice President and CFO Ronald Wendel , who has served as acting CEO
www . joc . com of the port and the public belt railroad since May , when former CEO Brandy Christian left to become CEO of Jacksonville , Fla . -based short line railroad Patriot Rail .
Louisiana Gov . Jeff Landry said in a statement Branch ’ s “ deep understanding of the commercial landscape and her track record of fostering rapid economic growth will ensure that our state remains a critical player in the global supply chain .”
Branch is taking the reins as New Orleans develops the $ 1.8 billion Louisiana International Terminal ( LIT ), which will allow the port to service ultra-large container ships because it will be located downriver of air-draft limits created by the Crescent City Connection bridge . According to the project ’ s website , LIT ’ s first berth is expected to open in 2028 .
Beth Ann Branch President and CEO , Port NOLA
November 2024 | Journal of Commerce 15