‘Slowing world trade dents shipping outlook’
Rising project cargo traffic is set to push multipurpose and heavylift shipping rates up during 2019, but prospects thereafter are muted by an expected slowdown in world trade. According to the shipping consultancy Drewry, the uncertainty surrounding trade demand is receding slightly as the US and China appear to be moving toward some kind of…
Ship operating costs rise further
Ship operating costs accelerated moderately in 2018, as uncertain recovery in freight markets across most cargo sectors gained momentum.
More shipyards may shut down this year
The wave of challenges bedevilling the shipping sector appears unabated, as it is feared that about 30 per cent of the surviving shipyards may also go down before the end of this year.
Container shipping firms may earn $143b this year
Notwithstanding the concerns of weak trade growth and fleet oversupply in the container shipping market, the firms’ revenue may clinch about $143 billion, going by the projections of a global shipping consultancy firm, Drewry.