Global shipping market review: mixed outlook ahead

The outlook for freight rates and secondhand prices is mixed. Tanker vessels are structurally positioned for a great 2024, whereas Container, Gas Carrier and Dry Bulk owners may need to scrap older and less efficient vessels to maintain current fleet utilisation levels. The long-term demand outlook is being shaped by global trends that call for less seaborne trade per dollar growth. Trade volumes could begin to shrink, while smaller parcel sizes and changed trading patterns may increase demand for more regional trades by smaller vessels. The shipbuilding industry’s ability to renew the existing fleet is under pressure. A total of […]