Confidence in the shipping industry has dropped and is now at its lowest level in two and a half years, according to calculations performed by analyst agency Moore Stephens, reports Tanker Operator.
There are several reasons that trust is no longer at the same level as it was in 2012. First of all, the respondents in the survey are worried about overcapacity in the market, but the effect from lower oil prices as well as the growth of new types of funding in the industry are also hurting the confidence.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Kuehne+Nagel more than doubles earnings in third quarter
Logistics major Kuehne+Nagel is reaping the rewards of a strong global demand for transport, which has resulted in soaring earnings. The constrained market situation is expected to continue in coming months.
Ikea, Amazon, Unilever commit to zero-emission ocean freight by 2040
Major companies such as Ikea, Amazon, Unilever and Michelin are committing to a full transition of their ocean transport to zero-emission fuels by 2040. Maersk CEO Søren Skou welcomes the announcement. NGOs are excited but remain critical.
Extreme container rates can push shippers into bankruptcy
Extreme container freight rates might lead to a string of bankruptcies for companies without transport deals, says shipping analyst Lars Jensen in an analysis to Shippingwatch. Particularly smaller fashion brands are under pressure, according to trade organization.
DCSA: Customers' lack of focus delays digitization of container market
Container carriers' customers are currently so fixated on capacity shortages that they have less time to enter projects aimed at creating common digital standards in the industry. "We'll have to wait for them to be ready again," DCSA CEO Thomas Bagge tells ShippingWatch.
87 vessels scrapped at Asian beaching yards in the third quarter
Carriers in the US, Europe and South Korea continue to scrap end-of-life ships at beaching yards in Southeast Asia. The third quarter proved the most fatal on record, according to NGO Shipbreaking Platform.
