Shipping outlook bleak
The global slowdown and overcapacity take their toll on the shipping industry.
Global shipping demand is shrinking, as evidenced by the fact that the London Baltic Dry Index is trading at its lowest levels in years. Closer to home, October throughput at the Hong Kong port was down after posting strong gains through the summer.
The decline in shipping traffic has been sudden and dramatic. ôQuite frankly, no oneÆs ever seen anything like this,ö says Standard Chartered managing director and head of shipping finance Nigel Anton. ôItÆs been quite incredible across all...
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