A continued slowdown in the global economy, low demand and declining international shipping markets with benchmark dry bulk and container indexes hovering at all-time lows.
All these are bad news for shipping, writes the Shanghai International Shipping Institute (SISI) in a report on the global ports' performance in the third quarter and first nine months of the year. The institute estimates that the above factors indicate a wider recession in shipping which will put massive downward pressure on the world's ports gong forward.
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