Panama Canal says shipping rebound is underway after record drought
cnbc.com
Panama Canal says shipping rebound is underway after record drought
A global recession would hit shipowners twice over: the lack of freight would cause their fixed cost per container to increase at the same time as it would weaken their ability to hold rates at profitable levels.
Post-1973 globalization has more than tripled the mass of seaborne trade and brought major shifts in its composition.[76] While in 1973 tanker traffic (dominated by crude oil and refined products) accounted for more than half of the transported total, in 2018 goods amounted to about 70 percent, a shift reflecting not only the rise of Asia—and, abov
... See moreThis tripling of shipped mass between 1973 and 2019 required (when measured in deadweight tons) a near quadrupling of the global merchant fleet capacity. Deadweight tonnage of oil tankers slightly more than tripled, the tonnage of container ships increased about 4.5 times, and the size of the global container fleet expanded roughly 10-fold in 45 ye
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