Mitsui OSK Lines believes the freight rate crash in container ships may temper demand in the red-hot car carrier market in the near term but it will do little to address the long-term capacity crunch that will continue to drive the sector’s super-cycle.
Koichi Hirata, general manager of MOL Auto Carrier Express (MOL Ace) — the group’s car carrier division — said demand pressure on the sector had been easing as secondhand vehicle exporters had switched to container ships to take advantage of lower freight rates.
