Last December, Fitch Ratings said the outlook for the global shipping industry would remain negative for 2018, and it did not expect market fundamentals to substantially improve because of lingering overcapacity.
The credit rating agency’s sobering assessment indicates that the five-year slowdown in world fleet growth would be extended. Since the supply of large-capacity vessels has been growing faster than demand, the sector expects overcapacity and downward pressure on freight rates and earning to continue.
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