Global Maritime Summit 2019

Restrain From Ordering New Ships! Over Capacity Drags Shipping

  • Container shipping capacity and preventing freight rates face major challenges for the container shipping industry.
  • ICS advised vessels to show restraint when ordering new ships to prevent stifling recovery.
  • Degree of uncertainty surrounding the shipping industry is the highest it has been in a decade.
  • Ship orders, as measured in capacity by deadweight tons, decreased 14 percent in 2018 to a level 17 percent below the average since the 2008 financial crisis.

According to an article published...

http://mfame.guru/restrain-from-ordering-new-shipsover-capacity-drags-shipping/

Oversupply Still Major Challenge Warns ICS

The Global Maritime Summit 2019 is organised in partnership with the Turkish Chamber of Shipping

Oversupply Still Major Challenge Warns ICS

Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned today that avoiding overcapacity and unsustainably low freight rates is still a major challenge ten years after the massive downturn of 2008.

Mr Bennett said: “In that time shipping companies needed to show restraint when ordering new ships, to...

http://www.allaboutshipping.co.uk/2019/04/03/oversupply-still-major-challenge-warns-ics/