Maritime market appears to be slowly recovering

FORECASTING the shipping markets is a tricky business, although a tendency to err on the pessimistic side is usually wise.

That is perhaps why independent research and consultancy firm Maritime Strategies International (MSI), has been careful to add a note of caution to its forecast of a positive outlook for most shipping markets. It warns that "complex and nuanced trading conditions ahead could quickly derail the recovery".

MSI director Adam Kent commented recently that the compound annual growth rate for seaborne cargo growth showed improvement almost across the board between 2013 and 2017 and will be equalled or bettered over the next four years for all sectors, except crude oil and LPG.