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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs