Morgan Stanley: Gloomy container prospects for 2016
The spot rates for container have dropped six weeks in a row and Chinese New Year's, which is traditionally a time of increased demand, did not come to the rescue. Gloomy prospects for 2016, Morgan Stanley assesses, while overcapacity seems to be sticking.
BY DANIEL LOGAN BERG-MUNCH
The Chinese New Year celebration at the beginning of this year did not help the struggling container shipowners. Traditionally demand increases during this period and the shipowners had prepared by putting more vessels on the water, according to numbers from major US investment bank Morgan Stanley in an update on the container market. The idled fleet has dropped so far from seven percent in November to six percent in 2016.
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