A part of Watch Media

ShippingWatchTuesday7 February 2023

  • Search
  • Log in
  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Search
  • Log in
  • Latest
  • Search
  • Log in
  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Offshore
  • Ports
30/04/2014at 14:58

Moody's: Stable shipping climate for first time in 3 years

Rating bureau Moody's is upgrading the global shipping industry to stable from negative for the first time since June 2011.
BY KATRINE GRØNVALD RAUN AND OLE ANDERSEN

On Wednesday Moody's upgraded the rating bureau's outlook for the global shipping industry from negative to stable for the first time since June 2011.

Moody's: Global shipping faces three challenges

"The revision reflects our expectation that the global industry's aggregate profits will rise by mid-single digits in percentage terms year-over-year in 2014, in line with our -5 percent to 10 percent growth range for a stable outlook," says Mariko Semetko, Assistant Vice President and Analyst, in relation to the report "Change to Stable Outlook for Shipping Sector Reflects EBITDA Growth".

In particular, Moody's notes that cost reductions - including the effects of reduced bunker prices, as well as the use of slower steaming and efficiency savings - drove the growth in EBITDA. At the same time, market conditions remain tepid, but not deteriorating, while freight rates for the dry-bulk market is showing some improvement. However, the container segment remains under pressure.

Fearnley: Crisis in dry bulk 

According to the report, carriers are also saving money by postponing or canceling newbuilding contracts and by scrapping the oldest and least efficient ships, and by idling other ships.

However, Moody's warns that the situation could change to negative again if the gap between supply and demand grows more than expected.

The upgrade from Moody's comes at a time when the anticipated and gradual recovery in shipping is starting to fade among a steady stream of bad news.

Do you want to stay up to date on the latest developments in International shipping? Subscribe to our newsletter – the first 40 days are free

Investors call off 2014 shipping rebound

Norden: We're hit by ten-year low on the Atlantic

Early 2014 does not look like a shipping rebound

 

Related articles:

  • Photo: K Line

    Investors call off 2014 shipping rebound

  • Norden: We're hit by ten-year low on the Atlantic

    For subscribers

  • Photo: Norden

    Early 2014 does not look like a shipping rebound

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Featured
Foto: Magnus Møller

Eitzen son wants to electrify shipping as new CEO of Christiania Shipping

New Christiania Shipping CEO Fridtjof C. Eitzen maintains that acquisitions are on hold after a record year. The 36-year-old marine engineer, fifth generation in the Eitzen dynasty, wants to electrify shipping.
  • Eitzen Group buys Norwegian marine tech company
  • Axel C. Eitzen passes torch to son following record-breaking year in Christiania Shipping

For subscribers

Mads Drejer, driftsdirektør hos Scan Global Logistics | Photo: Pr-foto Scan Global Logistics
Logistics

New owner to improve Scan Global Logistics’ acquisition abilities

For subscribers

Foto: Jon Nazca/Reuters/Ritzau Scanpix
Container

Carriers are becoming more punctual following massive delays during the pandemic

For subscribers

Photo: Scan Global
Logistics

Scan Global Logistics sold to private equity firm

For subscribers

Sultan Ahmen Bin Sulayem commands Dubai-based DP World. | Foto: DP World
Ports

DP World expects uncertain growth developments in 2023

For subscribers

Foto: Jens Dresling
Suppliers

EU project aims to make marine fuels with green energy

For subscribers

Further reading

Sultan Ahmen Bin Sulayem commands Dubai-based DP World. | Foto: DP World
Ports

DP World expects uncertain growth developments in 2023

Port operator DP World exits 2022 with growth across the portfolio and expects development to continue throughout the year in spite of mounting uncertainties.

For subscribers

Foto: Magnus Møller
Featured

Eitzen son wants to electrify shipping as new CEO of Christiania Shipping

New Christiania Shipping CEO Fridtjof C. Eitzen maintains that acquisitions are on hold after a record year. The 36-year-old marine engineer, fifth generation in the Eitzen dynasty, wants to electrify shipping.

For subscribers

Foto: Jon Nazca/Reuters/Ritzau Scanpix
Container

Carriers are becoming more punctual following massive delays during the pandemic

The 14 leading carriers improved their schedule reliability in 2022, shows new report. But pre-pandemic levels are still far away.

For subscribers

Latest news

  • French shipping tycoon ramps up M&A hunt with eye on Bollore arm – 6 Feb
  • Stolt-Nielsen plans listing for Stolt Tankers in 2023 – 6 Feb
  • Eitzen son wants to electrify shipping as new CEO of Christiania Shipping – 6 Feb
  • New owner to improve Scan Global Logistics’ acquisition abilities – 6 Feb
  • DP World expects uncertain growth developments in 2023 – 6 Feb
  • Carriers are becoming more punctual following massive delays during the pandemic – 6 Feb
  • EU project aims to make marine fuels with green energy – 6 Feb
  • Scan Global Logistics sold to private equity firm – 6 Feb
  • Scan Global confirms possible change of ownership – 6 Feb
  • Freight rates out of China continue to plummet – 3 Feb
See all

Jobs

  • Senior Financial Controller

  • Fleet Manager

  • Head of P2X Marketing and Sales (m/f/d)

  • Ambitious employee for Shipping office wanted

  • Vessel Manager Marine and QA

  • Copenhagen Shipping Company is hiring a skilled cargo broker

  • Chartering Manager for Lauritzen Bulkers A/S

  • Foundation Package Manager - Offshore wind industry

Jobs

  • Senior Financial Controller

  • Fleet Manager

  • Head of P2X Marketing and Sales (m/f/d)

  • Ambitious employee for Shipping office wanted

  • Vessel Manager Marine and QA

  • Copenhagen Shipping Company is hiring a skilled cargo broker

  • Chartering Manager for Lauritzen Bulkers A/S

  • Foundation Package Manager - Offshore wind industry

See all jobs

Colophon

ShippingWatch
Search

Sections

  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Offshore
  • Ports
  • Sitemap
  • RSS feeds

Editor

Tomas Kristiansen

tk@shippingwatch.dk

Tel.: +45 3330 8360

  • About ShippingWatch

Editor-in-chief

Anders Heering

Publisher

JP/Politiken Media Group Ltd

Advertising

annoncering@infowatch.dk

Tel.: +45 7077 7445

Advertising

Job Advertising

job@infowatch.dk

Tel.: +45 7077 7445

Jobs

Subscription

Try ShippingWatch or get an offer for a subscription meeting the exact needs of you or your company.

shippingwatch@infowatch.dk

Tel.: +45 7077 7445

Learn more about subscriptions here

Address

ShippingWatch

Rådhuspladsen 37

1785 Copenhagen K, Denmark

Tel.: +45 3330 8360

Guidelines

  • Privacy Policy

Copyright © ShippingWatch — All rights reserved

Microsoft is in the process of discontinuing Internet Explorer – and so are we.
For a better experience, we recommend using one of the following browsers.

Kind regards,
ShippingWatch

Google ChromeMozilla FirefoxMicrosoft Edge