SUBSCRIBERS

Ocean freight to enjoy better decade than previous one: HSBC

Tay Peck Gek

Tay Peck Gek

Published Sun, Dec 13, 2020 · 09:50 PM

    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.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Copyright SPH Media. All rights reserved.