Future of multi-purpose market

This report aims to understand the influence that regional developments in Asia, both current and potential, have on the future of Multi-Purpose market (MPP). Methodology: Multiple methods were used for research analysis beginning with web research, books and publications so as to attain a general overview of the market today. Following which, interviews were conducted with four interviewees who are well versed in the MPP trade in order to confirm, contradict or complement the research findings. A link to an online questionnaire made up of the interview questions were also sent out to 30 participants, consisting of established carriers, cargo owners and logistic members. Out of the 30 participants, 2 responded to the questionnaire. Research Findings & Implications: The volatile nature of Shipping makes it difficult to ascertain whether the MPP market will look optimistic in the future. Thus, forecasts are made in short term, medium term and long term. Research has shown the general consensus leaning towards positive especially in the medium term. Even though forecasts are not necessarily accurate, the result of this study will provide industry players a sense of direction in order to take or make the necessary precautions and preparations respectively, so as to make the best out of the market (Bright Hub, 2011). Research Limitations & Future Directions: Firstly, the scope of the paper is restricted to just Asia, and the lack of availability and accessibility to information was exacerbated by low responses from industry professionals leading to responses and opinions that are slightly skewed towards the perspective of carriers alone. Thus, research can be mirrored with a broader scope beyond Asia, as well as the inclusion of other stakeholders so as to recognize the diversity in perspectives. Paper Type: Research paper.Bachelor of Science (Maritime Studies