The shipping industry has been making big waves of late. Unfortunately, this is mostly due to the weakest state that the industry has been in the last several decades: too many ships chasing too few cargoes (for dry bulk and containerships) while CapEx for offshore and drilling getting slashed worldwide, and tankers benefiting for now from OPEC’s (weakening) will to go after market share.
Since our last update a few months ago, Basil M Karatzas and Karatzas Marine Advisors & Co. have been quoted extensively in the business press about developments in the shipping industry. A short list of pertinent articles have been displayed herebelow. We thought that our readership and clients could get a summary report of the 10,000-ft issues that are driving our beloved industry:
Private Equity on Collision Course with Shipping Banks IHS Fairplay, March 16, 2016
Chinese Shipping Majors Splash $2.5 Billion for 30 Giant Valemax Vessels Wall Street Journal, March 10th, 2016
The article was re-published in the respected investment advisory Morningstar website under the title: Beijing Moves to Tighten Grip on Trade Route
Container Ship Capacity Growth Dips to Historic Low EBN: The Premier Online Community for Global Supply Chain Professionals, March 8th, 2016
Algoma Pares Bulk-Commodity Freighter Fleet amid Shipping Slump The Globe and Mail, March 4th 2016
Commodity Slump Puts Dry-Bulk Shipping on Hold Wall Street Journal, February 21, 2016
Shipowners in Financial Distress as Dry Bulk Crisis Deepens The Financial Times, February 7th, 2016
Indebted Chinese Companies Increase Pressures on Government The New York Times, January 17th, 2016
Cash Burning up for Shipowners as Finance Runs Dry The Financial Times, January 3rd, 2016
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