Thursday , November 26 2020
Home / South China Morning Post / Coronavirus impact on global trade prompts ship firms to cut back on new vessels

Coronavirus impact on global trade prompts ship firms to cut back on new vessels

Summary:
[unable to retrieve full-text content]Shipping companies are spending less on new vessels this year amid a gloomy long-term outlook for global trade, but they are revelling in soaring freight rates, according to industry insiders and analysts.Last month, new ship orders as a percentage of the global fleet fell to 7.1 per cent, the lowest level since 1989, according to shipping consultancy Clarksons Research.Orders have slumped across the board, including for tankers, containers and bulk carriers, showing weak confidence among…

Topics:
Sidney Leng considers the following as important:

This could be interesting, too:

He Huifeng writes Shenzhen’s population size, key to gauging economic development, remains a matter of debate

Mike Shedlock writes New Home Sales Continue to Surge

Mike Shedlock writes Advance Indicators: Wholesale and Retail Inventories Up, Trade Deficit Up

Mike Shedlock writes Question of the Day: Bad Deal on Fish or No Deal on Fish?

[unable to retrieve full-text content]
Shipping companies are spending less on new vessels this year amid a gloomy long-term outlook for global trade, but they are revelling in soaring freight rates, according to industry insiders and analysts.Last month, new ship orders as a percentage of the global fleet fell to 7.1 per cent, the lowest level since 1989, according to shipping consultancy Clarksons Research.Orders have slumped across the board, including for tankers, containers and bulk carriers, showing weak confidence among…

Leave a Reply

Your email address will not be published. Required fields are marked *