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Bimco: Low growth rates are the new normal in the industry

In the future, we will see the effects of China becoming a more closed economy driven more by domestic demand than by foreign demand, says shipping analyst Peter Sand of Bimco.

Photo: Georg Hammerstein/POLFOTO/ARKIV

High growth rates are a thing of the past, and this means that there is a new normal in the shipping industry, writes analyst agency Bimco, which uses the 7 percent growth in the Chinese economy in the first quarter 2015 as a point of departure.

This represents a significant change from the double-digit growth rates seen in the middle of the 00s, and according to Bimco, this is due to the Chinese economy increasingly achieving growth based on domestic demand and less on the grounds of increasing exports.

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