ShippingWatch

NordLB: The shipping industry at standstill

In spite of the effects of a lower oil price and numerous positive factors in the shipping sector, the industry is still facing big challenges. And global growth is not helping, says NordLB in relation to the bank's annual report.

Photo: Århus Havn

Shipping is a place where things are right now going neither up nor really down, says NordLB in a shipping market forecast issued in relation to the bank's interim report on Thursday.

According to the bank - among the biggest lenders in German shipping - the IMF projected global economic growth of 3.3 percent this year and 3.8 percent next year represents the key problem.

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