Shipping confidence at all-time low on trade slowdown, Brexit risk

London

GLOBAL shipping confidence is at an all-time low as fears of a global recession and Britain's vote to leave the EU pile pressure on parts of the industry already suffering from its worst downturn, a leading transport survey showed on Wednesday.

The global container sector, which transports everything from bananas to iPhones, as well as the dry bulk shipping market hauling commodities including iron ore and coal, are struggling with a glut of ships, a faltering global economy and weaker consumer demand.