Demand growth set to outpace Cargo fleet during 2018-2019
29th October 2018
An insight to the forecasts for container trade and regional port volumes by a leading independent provider of research to the maritime sector has predicted slow and steady recovery for container shipping.
Are higher freight rates potentially on the way'
The outlook for the container shipping market in 2018 and 2019 is for a healthy growth in demand that will outpace the fleet capacity. This is expected to result in a better supply-demand balance and slightly higher freight rates and profits for carriers, according to shipping consultancy Drewry.
The top-heavy delivery schedule for 2018 with the majority of ULCVs being delivered in the first quarter has depressed our supply-demand index, but the balance will improve as the year progresses,
Simon Heaney, senior manager, container research at Drewry, said.
Unfortunately for carriers this won’t come soon enough to erase the negative sentiment for annual contracts, hence why we only anticipate a small uplift in average freight rates for the year.
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