This year is set to unleash stormy conditions for the global shipping industry. Writing in specialist shipping magazine Maritime Reporter, Izabela Listowska, Director at S&P Ratings, argues that overly large fleets are chasing too little trade and negative consequences for employment in the industry could be on the horizon.
Meanwhile, a potential rebound in oil prices threatens to worsen the situation, bringing higher prices for fuel and straining already-tight budgets. Listowska argues that fleets must take care to look after their liquidity, hold back on expensive orders for new ships, and pursue greater cost-efficiency in order to weather the coming year.
Read the article online here.