The Outlook of the World Shipping Markets, 1988-2000
Economic Review, 1988, City University Business School
Posted: 7 Feb 2014
Date Written: 1988
In previous issues we anticipated a permanent 50-100% increase in dry cargo and tanker values and time charter rates. These adjustments have already occurred. We now see prices and rates oscillating, over the next 10 years, around much higher levels than those of the recent depression but somewhat lower than the levels seen at the start of 1988. Dry cargo scrapping will drop permanently, but tanker scrapping will increase in the late 1990's because of ageing. Shipbuilding will also pickup strongly with output doubling by the early 1990's.
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