• Turbulent Conditions Continue for the Shipping Industry

    by Millie Lou

    The shipping industry is facing challenging times. Overcapacity, low consumer demand and low charter rates have caused shipping companies to cut costs in an attempt to make up lost revenue. In April 2016, global credit ratings firm Fitch Ratings released a bold statement: “Mergers and acquisitions, rather than the historically more popular alliances, are inevitable to address chronic overcapacity and drive further cost savings in container shipping.