China’s buoyant electric vehicle (EV) market continues to push demand for more roll-on roll-off carriers, evidenced by a 30% surge in the sub-sector’s global order book and representing 25% of the available fleet.
That’s according to the Norwegian investment and equities platform, Gersemi Asset Management.
This year alone 12 Ro-Ros are expected to join the local fleet, increasing global automotive shipment capacity by 1.8%.
Ongoing faith in the industry’s immediate to near-future growth can also be seen in the 46 Ro-Ros that are expected for delivery in 2024, and the 52 vessel deliveries in 2025.
News of sustained expansion in the Ro-Ro business comes in the wake of developments earlier this week that CMA CGM, Cosco, and Hyundai Merchant Marine (HMM) are all ready to answer the call for more supply capacity.
The French line is apparently on the verge of chartering four vessels while Cosco wants to add 24 carriers to China’s Ro-Ro fleet through its joint venture with Guangzhou Ocean Car Carrier.
Korean line HMM has also been mentioned as eyeing Ro-Ro expansion.
* Read this for context: https://tinyurl.com/mfmx2tnt
