Resume of the news: The world's largest shipping companies,...
Resume of the news:
The world's largest shipping companies, including Mediterranean Shipping Company S.A., A.P. Moller Maersk A/S, CMA CGM SA, and Hapag-Lloyd AG, are investing record profits earned during the pandemic into new ship orders from South Korean and Chinese shipbuilders, causing the global order channel to reach nearly $90 billion. However, the container shipping industry is facing challenges as concerns about overcapacity and declining demand emerge. Despite the economic downturn, companies are still ordering new vessels to mitigate climate change and achieve net zero greenhouse gas emissions by 2050. The International Monetary Fund predicts a sharp slowdown in trade volume growth for this year. Industry analysts suggest that overcapacity might be an issue due to the high number of new ship orders. The shipping industry's financing landscape is changing, with banks offering more favorable terms to ships with lower emissions. Overall, the situation remains uncertain, with the industry facing both opportunities and risks.
The world's largest shipping companies, including Mediterranean Shipping Company S.A., A.P. Moller Maersk A/S, CMA CGM SA, and Hapag-Lloyd AG, are investing record profits earned during the pandemic into new ship orders from South Korean and Chinese shipbuilders, causing the global order channel to reach nearly $90 billion. However, the container shipping industry is facing challenges as concerns about overcapacity and declining demand emerge. Despite the economic downturn, companies are still ordering new vessels to mitigate climate change and achieve net zero greenhouse gas emissions by 2050. The International Monetary Fund predicts a sharp slowdown in trade volume growth for this year. Industry analysts suggest that overcapacity might be an issue due to the high number of new ship orders. The shipping industry's financing landscape is changing, with banks offering more favorable terms to ships with lower emissions. Overall, the situation remains uncertain, with the industry facing both opportunities and risks.
The outlook for the shipping industry, which is in a cyclical predicament with record high ship orders, is becoming increasingly bleak
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