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Bimco: Hope fades for improved market in 2016

Industry organization Bimco sees hope fade for an improved shipping market in 2016. The sector must prepare for another challenging year, which could bring a decent finish, says the organization in an analysis of the market.

Photo: UASC

2015 was not the good year for the shipping industry overall that many players and observers projected at the beginning of the year. And 2016 could very well end up just as challenging in light of a new growth focus in China - even in spite of the anticipated higher global growth rates, notes Bimco in a new market analysis.

"Shipping should brace itself for yet another challenging year (...). As China re-evaluates its future growth and direction, the shipping industry can expect an uncertain and lower level of support from one of the most important drivers of shipping demand growth in recent times," notes Bimco.

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