Shipping industry woes | KPMG | GR

Shipping industry woes

Shipping industry woes

The maritime industry is quite different compared to other sectors of the economy. Its growth or recession does not depend on the ship owner’s place of origin but on the changes in the global economy.

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A typical example these last years, is the dry cargo sector which faces a serious decrease after a long period of growth. Prolonged reduction in freight rates at historically low levels, excessive number of vessels, reduced demand, reduction in the growth rate of China, excessive lending, are some of the main issues that shipping companies are facing worldwide today.

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