HEAVY CARGO MARKET FORECAST.

The Maritime Forecast from MBM Consultancy provides a Consultation for the future market on the Heavy cargo sector. This required a detail study into the Oil price and surrounding factors.

These key factors were the delivery of raw materials in the first instance for manufacture of large machinery. Also, the demand and need for the end user of such equipment in the foreseeable future.

The Maritime Forecast from MBM Consultancy was  performed as a study due to internal available financial knowledge of these sectors. Also, the internal forecasts for maritime transport and the operating costs for transporting all materials and goods in order to develop and maintain the large-scale projects sector.

In 2016, MBM Consultancy predicted an inevitable downturn in the heavy cargo market sector from 2016-2018 due to the price of oil, which has pulled the oil sector away from offshore exploration.

MBM will initiate a new study this year (mid 2019) to determine the forecast for the coming years of 2020-2022.

With a preliminary forecast set for a growth of 5%.

This growth may be dependent on financial support from Chinese investment in third world countries (specifically Africa). With a small potential increase in projected overall growth depending on EU markets. UK and US markets (approx. +0.3%). The upcoming recycling and installation programme for heavy machinery for the marine fleet and new construction programmes could also increase growth. This is necessary to meet environmental rules and regulations and will lead to mass scrapping of old and “not so old” inefficient vessels at an early age.

Ongoing tensions in global world trade/tariff agreements, disrupted/driven by the U.S., are significantly impacting growth.

Due to the COVID situation in 2020, a new study by MBM Consultancy will be available in the coming months. (to be published on 11-11-20).

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