It appears that the present situation in the container transport business on the open seas is having a detrimental effect on the mental attitude of the professionals in the shipping industry according to the latest polls. Many in the industry feel the downtrend isn’t over and the ground hog hasn’t been seen signalling the thawing of the financial crisis that has paralysed the spending of many firms in the ocean shipping sector.
Freight rates continue to be low in the ocean shipping sector and a large percentage of those that took part in the survey think that they’re going to stay low for the time being. This isn’t a big surprise considering the situation in world markets this year and the cloud that has been obscuring the financial picture in the freight industry.
The belief that things are turning around will grow once the cloud dissipates and firms have a better idea of the financial landscape ahead of them. In the meantime most are expecting that the cost of doing business will increase over the next few months, before it goes down, and this will likely mean some firms will have to tighten their belts even more to make it through this period.
This likely means that firms will have to put a halt to new investments in container transport ships and other items for the time being, at least until they have a better idea of how much they have to spend. The present capacity of the freight vessels on the oceans of the world is more than sufficient to handle the present needs, according to the industry, and a slowdown in construction of ships for the time being, isn’t likely to create a problem in freight transport capacity in the shipping sector.
http://www.ifw-net.com/freightpubs/ifw/ind...9592&src=ticker
http://www.moorestephens.com.au/Industries...ort/default.asp
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