As 2021 gathers momentum and the year of the Ox dawns, a number of market participants seem to be heralding firm cargo growth and strong earnings in some shipping sectors, with some even looking back to the heady days of the supercycle of the 2000s for comparisons.

While it is unarguable that cargo volumes have recently been strong, especially for bulkers and containerships, there remain a number of mitigating factors that should temper excitement over the length and strength of the surge.