A HANDYMAX BULK CARRIER FREIGHT MARKET RETREAT

After an abrupt setback twelve months ago from remarkably high levels, the Handymax bulk carrier freight market recovered but in the past six months has seen a weakening pattern resume. Shipowners and charterers have experienced freight rates varying within a wide range during 2021 and 2022. The outlook over the next twelve months for the global demand/supply balance for these bulk carriers points to a number of influences which could provide support.

Handymax bulk carriers — medium-size dry cargo vessels with a carrying capacity of between 40,000 deadweight tonnes and 70,000dwt — embrace many commodity trades. Notable sub-categories within the size group are the Supramax and Ultramax vessels, which successively gained most attention.

Investment in Handymax bulk carrier newbuildings has been sustained by shipowners’ cautious optimism about longer term future growth in the relevant global trades, encouraging confidence in ongoing employment prospects. Perceived potential for replacing existing ships with tonnage of greater efficiency enhanced attractions. These vessels’ adaptability ensures extensive as well as varied employment on numerous routes. Steady world fleet growth of 3–4% annually in this segment in recent years reflected the popularity.

VERSATILITY BENEFITS The inherent appeal of Handymaxes is explained by specific design features. A typical ship of this type is a ‘geared’ vessel (cargo-handling gear installed on board), equipped with cranes and grabs for loading and discharging cargo. This feature is included in the distinctive sub-categories of larger ships within the Handymax size group, the Supramax and Ultramax vessels.

Within the bulk carrier fleet as a whole, bigger capacity units — Panamax, Kamsarmax, Capesize and Newcastlemax bulk carriers — usually are ‘gearless’ (no installed cargo-handling equipment on board) and therefore are totally dependent on loading and discharging equipment at ports. An advantage of being geared is that this equipment allows efficient operation in trades where shore-based facilities are either unavailable, or inadequate. Handymax gear also often assists handling cargo from or into barges moored alongside, at an offshore anchorage or river berth.

Another benefit is the Handymax dimensions — length, beam and draught — suitable for many ports around the world, on most trade routes. The carrying capacity offers some economies of scale. As a result, varied employment patterns

Richard Scott, Bulk Shipping Analysis

HANDYMAX (40–69,999DWT) BULK CARRIER FLEET (MILLION DEADWEIGHT TONNES) 2017 2018 2019 2020 2021 2022

Newbuilding deliveries Scrapping (sales) Losses 10.5 5.6 8.2 9.2 7.0 7.0 3.1 0.7 0.8 1.8 0.6 0.5 0.1 0.1 0.1 0.0 0.1 0.0

Plus/minus adjustments

0.0 0.2 0.0 0.0 –0.1 0.0

Fleet at end of year 194.7 199.7 207.0 214.4 220.6 227.0

% change from previous year-end +3.9 +2.5 +3.7 +3.5 +2.9 +2.7

source: Clarksons (historical data) & BSA 2022 forecasts *forecast

often occur. There is frequent involvement in the coal, grain and soya trades. Numerous cargoes in the minor bulk commodity trades are a prominent feature: steel products, ores and minerals such as nickel ore, other industrial commodity cargoes, fertilizers and various agricultural commodities including oilseeds and meals are carried.

In recent years the preferences of shipowners in new vessels, for employment within these trades, firmly shifted towards higher capacity Ultramax 60–69,000dwt bulk carrier designs at the top end of the Handymax size range. Previously the Supramax, typically 52–57,000dwt, was the preferred unit, taking over from smaller handymaxes below 50,000dwt.

STEADY FLEET EXPANSION Growth at a moderate pace has unfolded over the past few years in the world fleet of Handymax bulk carriers. Deadweight capacity in the 40–69,999dwt size group increased by an average 3.3% annually in the five years from 2017 to 2021, including 2.9% in 2021 as shown in table 1. In the current year, 2022, a similar rate is foreseen, probably followed by a deceleration next year based on partly speculative assumptions.

At the end of 2021, Handymax fleet capacity reached 220.6 million deadweight tonnes according to Clarksons Research data. Vessels in the size group numbered 3,920. This total comprised under onequarter of the entire 946m dwt world bulk carrier fleet of all vessel sizes. On a longer period comparison, over ten years, Handymax capacity increased by twothirds.

During the 2022 first nine months the handymax fleet has been augmented by more than 2%, boosting the total to 4,000 ships amounting to 225.5m dwt at endSeptember. Newbuilding deliveries remained steady while scrapping has slackened slightly.

Handymax newbuilding deliveries to owners by shipbuilding yards around the world fell in 2018 to the lowest level since eleven years earlier, followed by a revival to 9.2m dwt in 2020 and 7.0m dwt in 2021. Scrapping of mainly older vessels partly offset these volumes to varying degrees. Demolition sales rose to 1.8m dwt in 2020, from under 1m dwt annually in the previous two years, before receding to well under 1m dwt last year.

A notable trend is changing fleet composition within the Handymax segment. Large differences between the size of newbuildings delivered into the fleet, and the size of old ships sold for demolition is a feature. In 2021 newbuildings averaged 60,300dwt, confirming the popularity of ultramaxes towards the top end of the handymax size range. By contrast, ships sold for scrapping averaged 42,800dwt, with an average 27 years age, representing an earlier era when the original Handymax bulk carrier of 40–50,000dwt size was most popular.

Looking at newbuilding Handymax deliveries during 2022, the total in the year as a whole seems set to be similar to last year’s deadweight volume. This estimate is based upon the pace so far, coupled with expectations for the remaining months. The scrapping volume has been limited because of improved freight market sentiment and second-hand prices, and the annual total could be minimal at below 1m dwt. Although the end of 2022 is approaching, it is still difficult to estimate these elements precisely because there is some potential for unexpected changes.

SLOWING FLEET AHEAD? Based on tentative indications it seems likely that slowing fleet growth will emerge in 2023. Newbuilding deliveries may remain fairly steady. But there is potential for these to be offset to a greater extent by much higher scrapping. Fleet evolution is hard to predict accurately, because great uncertainties surround both inflows and outflows of tonnage. These influences will be affected by evolving freight market patterns, and by changing market sentiment and views, so perceptions may change.

Current global orders for new Handymax bulk carriers are set out in table 2, showing the schedule over the next twelve months and further ahead. Newbuilding orderbooks at shipyards, as reported, provide only a rough guide to the amount of future fleet capacity likely to be added within any given period, however. Orderbook slippage and postponements, difficult to predict, often occur while more orders could be added.

As shown, the entire current Handymax orderbook for all future delivery years now totals about 17m dwt, equivalent to 8% of the existing world fleet in this size group, a relatively low percentage. Most of the deadweight capacity on order consists of ultramax vessels, emphasizing how these ships have become the dominant investment focus.

Incentives to invest in new ships are

TABLE 2

HANDYMAX (40-69,999DWT) BULK CARRIER ORDERBOOK (MILLION DEADWEIGHT TONNES)

scheduled orderbook deliveries, not forecasts of actual deliveries

4q2022* 2023 2024/later total

40–49,999dwt 0.2 0.1 0.2 0.5 50–59,999dwt Supramax 0.2 1.0 0.3 1.5 60–69,999dwt Ultramax 1.6 6.1 7.4 15.1

Total 2.0 7.2 7.9 17.1

source: Clarksons Research *fourth quarter of year

affected by ideas about the outlook for the freight market and profitability, for the bulk carrier sector as a whole and for Handymaxes in particular. Although orders for Handymax bulk carriers picked up in the past two years, 2022 has seen a more limited response, apparently reflecting the setback in freight rates and renewed caution about how the future market trend may evolve.

Shipowners’ views of longer term market prospects have become more cautious, causing hesitation in ordering new ships. There is substantial uncertainty about the effects of tightening regulation of shipowning activities and, especially, surrounding the intensified focus on cutting ships’ greenhouse gas emissions. The technology needed for alternative fuels facilitating decarbonization, suitable for the entire lifetime of a typical new ship is unclear. Until more clarification is available, fleet growth may remain restrained.

Variations in the pace of scrapping (recycling) is another imponderable for fleet growth forecasts. How this influence evolves is always difficult to predict, both in the immediate future and further ahead. As well as the impact of secondhand vessel and scrap prices, owners’ views of current and expected freight market trends are among unpredictable aspects.

Potential for scrapping old tonnage is apparent, but the Handymax fleet’s relatively young age is a limitation. Only 10% (about 22m dwt) is 20 or more years old, an age group where recycling is more likely, mostly in the 40–50,000 dwt size subgroup. However, tightening regulations and compliance costs could encourage extra sales to demolition yards. Consequently higher scrapping is a possibility, after recent minimal volumes, resulting in a net deadweight capacity addition in 2023 of well below this year’s total.

TRADING PATTERNS DIVERSITY Evidence of global trading patterns performed by Handymax bulk carriers confirms that a high proportion of dry bulk commodity movements is accessible, with relatively few limitations. The dimensions and cargo-handling capability of typical ships facilitates their employment carrying numerous commodities in most geographical areas.

But in practice large parts of global longhaul iron ore and coal movements do not normally employ Handymaxes. Bigger Panamax, Kamsarmax, Capesize, Newcastlemax and even larger bulk carriers can be accommodated on many of these routes. Higher-capacity units enable greater economies of scale to be derived, providing cheaper transport.

As a very rough guide to the significance of various trades, calculations show that for Handymax 40–70,000dwt size bulker employment, the iron ore and coal trades each contribute up to one-tenth of total employment. Grain and soya trade contributes about one-fifth, while the remaining utilization category, contributing over half of the total, is the extensive and diverse minor bulk commodity trades.

COMMODITY MIXTURE Global grain and soya trade is one of the most prominent segments providing many cargoes for Handymax bulk carriers. This market segment experiences a continuously changing pattern of trade routes and quantities, which is highly variable in both the short and longer term, and tends to be largely unpredictable. World trade in wheat and coarse grains, together with soyabeans and meal, saw strong overall expansion before flattening during the past crop year. In the current 2022/23 year restraining influences are still visible.

World trade in wheat plus corn and other coarse grains, during crop year 2021/22 ending June 2022, was 2mt (million tonnes) or under 1% lower compared with the previous twelve months, at 424mt based on International Grains Council calculations. Soyabeans and meal global trade was 11mt (5%) lower in marketing year 2021/22 ending September, at 219mt, according to US Department of Agriculture estimates. Decreased grain and soya imports into China was an especially visible change, explaining much of the downturn.

Flexible sea transport services provided by bulk carriers handle the frequently changing grain and soya cargo volumes imported and exported by various countries, and varying geographical trade patterns. Large rises or falls from year to year, in volumes of grain or soya available in exporting countries, and quantities required in importing countries, often reflect harvest output fluctuations. These production changes are frequently caused by unpredictable weather variations. Coupled with port and storage limitations in many countries, this feature enhances employment opportunities for adaptable Handymax bulk carriers.

There are no signs at present of resumed growth in wheat and coarse grains trade in the current 2022/23 period. IGC estimates show a further large fall in China’s imports from the peak volume seen two years ago which, together with weakness among other countries, may result in global trade declining again, by 16mt (4%), to 408mt. By contrast in the soya category USDA estimates show strengthening imports into China, which comprise two-fifths of the world total. These were much lower at 90mt in the past twelve months. A prospective rise could contribute to a 13mt (6%) global soya trade increase to 231mt in 2022/23.

Carrying cargoes within the ‘minor dry bulk trade’ category is an extensive part of Handymax bulk carrier employment. Some individual elements of this group are not actually minor but large, amounting to massive annual volumes. The commodity range is broad and in recent years the overall total has been estimated at over 2000mt annually. Last year there was a revival when some elements previously affected by a pandemic-related weakening rebounded.

The two biggest trade components among minor bulk commodities are steel products (coil, sheet, plate and other

Capesize vessel Nord Energy.

items), and forest products, although not all quantities are carried by bulk carriers. Other big volumes are contributed by bauxite/alumina (aluminium raw materials), fertilizer raw materials and semi-finished fertilizers, agricultural commodities, and cement trades. These are accompanied by large quantities of ores such as nickel and manganese, and scrap.

This category is widely diversified mainly among commodities related to manufacturing and construction activity, together with a significant agricultural component. Some estimates suggest that in 2021 there was an overall increase of around 5%, more than reversing the previous year’s reduction. Results in individual commodities varied last year although most appear to have seen growth, especially in industrial bulks where economic recovery around the world boosted demand for the products of many industries. But tentative indications point to a weaker 2022 outcome amid setbacks for economic activity in many countries.

Within the coal segment, numerous routes chiefly employ Panamax and Capesize ships but Handymax cargoes amount to big volumes, especially on specific trade routes. Global seaborne coal trade is the second largest commodity trade employing bulk carriers (after iron ore), and amounted to 1233mt in 2021, according to Clarksons Research data. Coal still exceeds one-fifth of all global dry bulk cargo movements, despite environmental restraints on consumption.

Coal trade grew by 5% last year, partly reversing the previous year’s abrupt decline. The principal positive influence during 2021 was the upturn in global energy consumption resulting from economic activity recovering after the coronavirus pandemic. Seaborne movements comprise steam coal (used chiefly in power stations, also in other industries), and coking coal (used in the steel industry). Steam coal comprises almost four-fifths.

In 2022 seaborne coal trade is being supported by energy shortages exacerbated by the consequences of the conflict in Ukraine, reducing gas supplies from Russia. While the emphasis on a global shift towards cleaner energy sources persists, downwards pressure on fossil fuels including coal has temporarily diminished. Some forecasts suggest that world coal trade may be flat or marginally higher in 2022 as a result, and there are expectations of resumed growth unfolding next year.

FREIGHT MARKET EVOLUTION Since early 2022 charter earnings of Handymax bulk carriers in the freight market have been on a downwards trend after reaching peaks in September/ October 2021 and again in March this year. The deadweight tonnage capacity of the world fleet of these ships has continued growing at a similar rate to that seen previously. But some of the trades in which there is much employment have experienced weakening volumes, while an easing of port congestion and delays has apparently improved vessel availability, augmenting a loosening of the demand/supply balance.

A useful indicator of Handymax freight market changes is the Baltic Supramax Index calculated by the Baltic Exchange. This index began 2022 at above 2,000 points, after plummeting in the final quarter of last year from more than 3,500 reached following a steep upwards trend. In the first quarter of this year a partial recovery to around the 3,000 level ensued but the index subsequently was on a declining trend approaching the 1,500 points level at the end of October.

What are the prospects for Handymax freight rates in the period ahead? Forecasts for dry bulk trade generally and the commodity trades most relevant to handymax bulk carrier employment have become more cautious. Considerable headwinds are facing global economic activity with implications for import demand in many commodities during 2023, which may restrain or prevent trade growth, or even result in contraction. However, a potential upturn in China’s economy if covid restrictions are reduced could provide a boost.

On the supply side of the market there are clear signs pointing to additional support for freight rates over the next twelve months. A seemingly realistic expectation of higher scrapping could restrict expansion of Handymax fleet carrying capacity. Moreover, tightening international regulations designed to reduce ships’ carbon emissions are now being introduced.

In addition to encouraging the scrapping of older ships unable to comply with regulation changes, another result envisaged is slower steaming speeds to cut emissions. If such a change becomes widespread, it could further restrict transport capacity available, underpinning freight rates.

With equipment installed on the equivalent of every other ship at sea, MacGregor’s marine and offshore ambitions to exploit digital twin technology at scale are as achievable as they are understandable.

Like many of the digital terms entering the marine and offshore lexicon, gains associated with the ‘digital twin’ have quickly become slippery due to multiple interpretations. But a technology with deep consequences for design, operations and maintenance cannot be allowed to slide into the shallows of the maritime buzzword, say Dennis Mol, Vice President Technology & Sustainability, and Bhavik Thakker, Director Digital Solutions, MacGregor.

This is one reason MacGregor recently formalized the Digital Twin part of its digital services offering. Another is that the group has already proved a front-runner in securing safety, productivity and sustainability gains by developing real-time digital processes to support the marine cargo and offshore load handling equipment it delivers.

“Rather than talking up potentials, we have evolved a set of cases to demonstrate the purpose of using a digital twin in different scenarios, and the benefits of calculating, simulating and analysing what is feasible for equipment based on data from the operating environment,” says Thakker.

MacGregor’s conclusion is that digital twin technology has value for marine and offshore customers at every stage of its product and service offering: from the product concept stage, to design and engineering verification, testing and sea trials, training, operations and maintenance.

ALTERNATIVE REALITIES “Data that is ‘engineering-level’ accurate allows a digital twin to simulate the real time dynamics of an actual vessel in its environment,” explains Mol. “This creates analytical power that goes beyond theoretical modelling. A designer can evaluate the impact of an integrated equipment configuration at the predevelopment stage, for example, and work to refine control systems in advance to benefit the whole.”

Allowing the user to try-out a new design is empowering for the customer and invaluable for the engineer — both as a way of exploring and predicting behaviour, and as a tool to get things right the first time and avoid cost overruns. For MacGregor, the benefits of using the digital twin are available from a product’s conception to the end of its operational life, Mol stresses.

“Working with accurate specifications and real data, we can use the digital twin for FEED studies and rapid prototyping in the idea development phase, and present the customer with interactive ‘almost-real’ experiences,” adds Thakker. “Later in the process, the technique allows us to optimize the general arrangement, choose the right equipment combinations, develop realistic structural analysis, verify the design, and simulate and analyse work processes.”

BEHIND EVERY GOOD TWIN — A BETTER TWIN “MacGregor has already used a digital twin in key product developments,” says Mol. “Its in-house developed ‘C-how’ simulation technology has been deployed to de-risk the engineering phase, verify the design in different on-deck scenarios and optimize operability.”

In one case, a shipyard used a digital twin to simulate control responsiveness of a MacGregor davit system during boat launch and recovery, in order to verify the maximum wave height limit. In another example, using the technique in the product test phase enabled dynamic vessel motion modelling so that an owner could verify that a gangway designed for the bow of a vessel would operate safely at greater wave heights.

For operational purposes, one MacGregor customer used a digital twin to maximize the weather window within which subsea equipment could operate, while another developed new subsea crane operating guidelines after an incident involving a mis-timed change in mode.

DATA-DRIVEN LESSONS Thakker explains that, once the equipment is built, a digital twin also proves invaluable for verifying safety, optimizing control procedures and automation sequences, and for detecting failure root causes.

“The data analytics capabilities can be

used for predictive maintenance planning and to anticipate failure and repair needs for critical equipment well in advance,” he says.

But the usefulness of the digital twin for worldwide maritime industries is not limited to machinery. “The experience of using the digital twin also takes training using simulation to a new level,” adds Thakker. “In fact, the best point of delivery for the data-driven lessons that enhance equipment efficiency is to the people using it. Training needs to be delivered in the most effective way, and e-learning, scenariobased simulations, analytics and immersive augmented reality-based methods create a powerful mix to get the message across on standards to office-based and shipboard personnel alike.”

A digital twin-level of simulation accuracy makes high-fidelity training more affordable, based on MacGregor’s heritage and continuing role as a global supplier of handling equipment.

In a fast-changing scenario, MacGregor is already trialling the use of the digital twin technique for an augmented reality-based pilot covering air compressor maintenance sequencing, says Thakker, but his preference is to focus on gains already won.

“Getting that real-time feel and having the ability to simulate how equipment actually responds in an emergency situation results in a much steeper learning curve for the user,” he says. “If an incident has occurred in the past, we can just play it back using a rich visual format, see how the guys respond and then train them on what they could have done better or patterns to look out for.”

MacGregor is on the verge of delivering a new portable simulation-based offshore active heave compensation crane training package which uses digital twin capability to an offshore support vessel operator, he discloses, based on a rental and software licensing agreement.

“Our experiences with digital twin technology have allowed us to mature and formalize our approach across the entire scope of our activities — from design and engineering to testing, verification, training, operational support and maintenance,” adds Thakker. “And the more we learn, the clearer the benefits for our customers become.”

All-electric Liebherr LS 800 E ship cranes for SAL ‘Orca’ project

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v Liebherr secures order for eight allelectric heavy lift ship cranes type LS 800 E from SAL Heavy Lift The completely new developed cranes have a maximum lifting capacity of up to 800 tonnes and a radius of up to 39 metres Continuation of a trusting partnership between the two companies Harren Group and Liebherr that has lasted for decades

SAL Heavy Lift has ordered eight allelectric heavy lift ship cranes type LS 800 E. As part of the future-oriented ‘Orca’ project, two cranes will be installed on each of SAL’s four vessel newbuildings.

By combining the capacity of both cranes in tandem mode, cargoes of up to 1,600 tonnes can be handled. The innovative ship cranes will make it possible to lift components of the future project cargo while being prepared for the increasing environmental protection requirements.

The LS 800 E is the latest innovation of Liebherr’s heavy lift ship crane portfolio. The recently launched crane is designed for the ever heavier and larger cargo. Moreover, the all-electric drive concept supports vessel operators in saving CO2 emissions. The order of the first LS 800 E ship cranes marks the beginning of a new phase in the long-term partnership between the Harren Group and Liebherr. At the same time, it is SAL Heavy Lift’s first newbuilding project with Liebherr. The two family-run companies have been cooperating since the start of this new project for four multipurpose heavy lift vessels. The crane manufacturer was actively involved in the development from day 1. Since the ‘Orca’ class of ship breaks new ground in many respects and will significantly raise the bar in the relevant transport segment, the crane developers were also challenged to rethink many details in addition to general requirements, and performance parameters and to make their contribution to the efficiency and innovation of the ship concept. The result is a perfectly co-ordinated unit of crane and vessel that enables maximum efficiency and performance.

ALL-ELECTRIC ENERGY EFFICIENCY Apart from fulfilling the demanding operational requirements and different cargo scenarios, the new Liebherr ship cranes enable significant savings in smart interaction with the innovations on the ship

The LS 800 E has a lifting capacity of up to 800 tonnes and a total radius of 39 metres.

The four multipurpose heavy lift vessels of the ‘Orca’ project will each be completed with two all-electric Liebherr LS 800 E ship cranes.

side. The new LS 800 E actively communicates with the ship’s power management system and thus enables intelligent energy utilization. Recovered energy is fed back into the ship’s energy system and stored so that it can be released when energy consumption is high again. This leads to a noticeably reduced fuel consumption and a considerable reduction of CO2 emissions on the ‘Orca” ships.

The entire power electronics of the drive system are installed inside the cranes. This allows the limited space below deck to be used for other purposes and noticeable facilitates the integration of the crane into the ship’s design.

COMPACT DESIGN FOR HIGH DURABILITY The integration of the entire drive concept inside the crane also significantly increases the durability of the components, as they are protected from the weather. “The reliability of the cranes is extremely important for heavy lift vessels. They must function for the entire life of the vessel. The family-run company Liebherr offers a convincing overall package for this, thanks to its wide-ranging product and technology knowledge as well as its worldwide service network.” explains Dr Martin Harren, CEO of the Harren Group.

READY FOR FUTURE REQUIREMENTS The LS 800 E ship cranes expand Liebherr’s product portfolio and enter a new segment. They are the largest ship cranes Liebherr has built to date. The cranes are aimed for a growing market of shipping large wind industry components. In the future, these will not be manageable with the lifting capacities and dimensions that have been common in the market so far. Moreover, the supply of heavy lift vessels with cranes of 800 tonnes capacity is lower than the expected future demand. Liebherr has claimed the resulting growth market for itself with the development of the LS 800 E ship crane.

The all-electric drives are already preparing the cranes for future environmental protection requirements in terms of energy efficiency an emissions regulation. “The development of the new cranes combines SAL’s user experience and Liebherr’s crane construction expertise. The LS 800 E will be the most advanced ship crane in its segment.” comments Gregor Levold, General Manager Sales for Liebherr Offshore, Ship and Port Cranes. “The all-electric heavy lift cranes feature a variety of innovations that simplify maintenance and reduce operating costs. At the same time, they are characterized by innovative as well as environmentally friendly drive technology,” adds Levold.

COOPERATION WITH HISTORY The co-operation between Liebherr and the Bremer Harren Group began back in the late 1990s with the delivery of the first 40-tonne ship cranes for container vessels. This was followed by a large order for 24 Liebherr heavy lift cranes for use on multipurpose vessels in 2006 and 2007. Since then, a trusting partnership has developed between the two companies on an equal footing, which was further expanded in the transport sector with Harren’s acquisition of SAL Heavy Lift. Dr Martin Harren comments as follows: “The co-operation between SAL and Liebherr is characterized by great commitment and mutual trust.” Jan Breckling, Senior Sales Manager at Liebherr Maritime Cranes, adds: “SAL is a reliable and competent partner with whom we work intensively in all areas and maintain close contact between the people involved. By ordering the LS 800 E ship cranes, we can jointly shape the future of heavy lift and project shipping. “

ABOUT SAL HEAVY LIFT SAL Heavy Lift, a member of the Harren Group and part of the Jumbo SAL Alliance, is one of the world’s leading heavy lift shipping companies headquartered in Hamburg. Specializing in the shipment of project and heavy lift cargo, SAL offers tailor-made transport solutions worldwide. Jumbo-SAL-Alliance owns and operates a versatile fleet of 30 modern project cargo vessels with a lifting capacity of up to 3,000t SWL.

ABOUT LIEBHERR-MCCTEC ROSTOCK GMBH Liebherr-MCCtec Rostock GmbH is one of the leading European manufacturers of maritime handling solutions. The product range includes ship, mobile harbour and offshore cranes. Reach stackers and components for container cranes are also included in the product portfolio.

ABOUT THE LIEBHERR GROUP The Liebherr Group is a family-run technology company with a highly diversified product portfolio. The company is one of the largest construction machinery manufacturers in the world. It also offers high-quality and user-oriented products and services in a wide range of other areas. The Liebherr Group includes more than 140 companies on all continents. In 2021, it employed more than 49,000 people and achieved a total turnover of over €11.6 billion. Liebherr was founded in 1949 in Kirchdorf an der Iller in southern Germany. Since then, its employees have pursued the goal of continuous technological innovation and providing customers with industry-leading solutions.