Svend Andersen describes himself as “a born optimist” but he doubts the projects shipping/heavylift market will return to a healthy state any time soon.

“I think the whole industry has moved on,” said the chief executive of Leer-based BBC Chartering. “I think there will be big changes.”

BBC is among the biggest operators in the multipurpose/heavylift market, with around 170 ships, or around one-fifth, of the shipping capacity in some sectors of the project market.