Ocean freight to enjoy better decade than previous one: HSBC
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Tay Peck Gek
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Singapore
THE decade starting from 2020 will be significantly better than the last 10 years for the ocean freight industry, HSBC global research said in a recently published report.
HSBC attributed the overall losing streak in the previous decade to a downcycle as well as structural rea-sons: excessive new vessel building, price competition and a lack of discipline to manage capacity even though demand growth had been reset to a low single-digit from double-digit growth prior to the financial crisis.
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