BIMCO reports on 2015 and looks towards 2016

Despite the fact that the global economic activity looked strong early in the year, 2015 never really took off, with the difficulties left from the end of 2014 never overcome, largely due to the struggling emerging markets and developing economies.

The dry bulk market experienced a problematic 2015, particularly due to the fact that the continuous decline in Chinese coal imports was not countered by significant increase elsewhere. In 2015, steel exports from China reached a new high, which benefitted mid-sized ships – 2016 then, largely depends on what the Chinese steel mills do.

According to BIMCO, shipping should brace itself for another difficult year, with hope for improvement in 2016 declining, although the International Monetary Fund has forecast higher GDP growth rates across the board in 2016. BIMCO expects the supply-side to grow by about 2% in 2016, helped by a new record level of scrapping, while growth on the demand side is expected to remain level.

Adapted from press release by Rebecca Bowden   Source: BIMCO

Read the article online at: https://www.worldcement.com/europe-cis/06012016/bimco-reports-on-2015-and-looks-towards-2016-268/