ShippingWatch

Sluggish Chinese growth pulls down world's ports

The decline in global economic growth and sliding international shipping markets combine to make slow growth the new trend among the world's ports, notes China's SISI in an update.

Photo: Thanassis Stavrakis/AP/POLFOTO/arkiv

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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