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SPECIAL: OUTLOOK 2018

BY MARTIN UHLENFELDT

CAUTIOUS OPTIMISM IN SHIPPING Minor improvements in the global economy have led to cautious optimism in certain sectors of shipping. The upswing in the dry cargo market is very fragile and it will be necessary for global ship-owners and operators to nurture it if they want it to last. BIMCO’s chief analyst Peter Sand reports. - What we are witnessing in general is an improved global economy. In 2017 we saw for the first time in many years, that business was a little bit better than the preceding year. This information comes from IMF, who are normally pretty accurate in their predictions. It seems that we hit something close to rock bottom in 2016. In 2017 things were a little better, and this will also be the case in 2018, says Peter Sand, chief analyst at the international shipping organization BIMCO, headquarters Denmark. - This is the underlying reason for optimism. But one has to be aware that growth in the

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global economy does not necessarily mean an increased demand for shipping. DRY CARGO - In the dry cargo area, we expect 2018 to be better than 2017. But whether the whole year will be profitable for the industry, is in the hands of the industry. There is still some scrapping and slow steaming to be done, says Peter Sand. - The recovery, that everyone talks about, is very fragile. It could stick, but that would require that the global ship-owners and operators take good care of it.

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- Looking towards 2019, we start to see that some of the ships that was ordered in 2017 - as a result of the renewed optimism, are being delivered. Then we will experience a more stable market. CONTAINER SHIPS - In 2017, we saw a 5 percent growth in demand, which is the largest growth we have experienced in several years. We probably wont reach this in 2018, since our expectations are a little lower. Hopefully we will witness profitable markets, but it is the shipowners and their ability to get the capacity adapted

Profile for Media Group Maritime Denmark

Dmm 1 18  

Danish Shipping Industry - Facts and Figures: In 2017, the Danish fleet has grown considerably and reached an all-time high when measured by...

Dmm 1 18  

Danish Shipping Industry - Facts and Figures: In 2017, the Danish fleet has grown considerably and reached an all-time high when measured by...