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Ocean freight to enjoy better decade than previous one: HSBC

Tay Peck Gek

Tay Peck Gek

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

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    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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