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More than 220 cargo ships scheduled for delivery in 2018 - Report

Logistic News - Published on Fri, 29 Dec 2017

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Business Standard reported that with more than 220 cargo ships scheduled for delivery in 2018, realisations of container shipping lines across the globe are expected to come under pressure next year because of oversupply. Mr Audrey Dolhen, managing director, French shipping line CMA CGM Agencies (India) Pvt Ltd, said that “2018 is going to be a tough year for container shipping lines as some players are acting bullish and adding capacities which could put freights down in the coming months.”

However, the year 2017 has been a market of improvement for container business segment, said industry officials as cargo demand picked up across the globe with trade showing some upswing.

Mr Subrata K Behera, manager (ports and containers research), Drewry, a UK-based maritime consulting company, said that “Container shipping lines will have to act cautiously next year as any kind of aggression in adding capacity will only hurt the business.”

For India, however, the impact is expected to be minimal as select bulk commodities are also getting containerised leading to increased demand for the container business in the domestic market. “Steel, scrap metal and even iron ore is getting containerised in Indian market. Due to this, the impact of overcapacity globally will have very limited impact on India’s container business in 2018,” said Hitesh Avchat, senior manager, Care Ratings.

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Posted By : Nanda Koijam on Fri, 29 Dec 2017
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