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Moody's: Operating profits in shipping could dive 10 pct this year

Moody's does not have a lot of faith in the shipping market. The shipping companies' aggregate operating profits could plunge by up to 10 percent this year, writes the rating bureau in a new report.
Photo: Golden Ocean
Photo: Golden Ocean
by DANIEL LOGAN

The global shipping sector faces bleak prospects for the next 12-18 months, notes rating bureau Moody's. The firm has a negative outlook and expects a wide ranging setback for the struggling industry overall.

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