ShippingWatch

Nordic banks: China's growth starting to seep

China's GNP will decrease annually going forward, according to the major Nordic shipping banks. They anticipate a growth in the range of 6.5 to 7.0 pct. in 2016, but the country's role as economic growth engine remains intact.

Shanghai | Photo: Georg Hammerstein/POLFOTO/ARKIV

The Chinese growth might be struggling to maintain the pace seen in recent years, from towering rates of 10 percent to this year where the growth rate will likely finish at around 7.5 percent. And several of the major - and shipping-heavy - Nordic banks expect the overall growth to continue in the same vein through 2015 and 2016, without this development necessarily resulting in dramatic consequnces.

At Nordea, senior analyst Amy Yuan Zhuang, who specializes in Asian economies and China in particular, points out that the Chinese government has no plans of abandoning its growth target.

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