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International shipping has entered a severe recession. Losses are incurred worldwide and the future is yet uncertain.
Since the long and deep shipping crises in the 1980s, international sea borne trade was enjoying continuous growths. Especially since the turn of the millennium, all shipping related markets remained firmly bullish and people were in the belief of endless growth in economy and trade, fuelled by Asia’s and especially China’s seemingly infinite appetite for progress and development. However, these fundamentals have changed dramatically over the recent 18 months.
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- Martin Krafft (Autor:in), International shipping in crisis – background, framework and implications, München, GRIN Verlag, https://www.grin.com/document/138172
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