Shipping’s propensity to shoot itself in the foot is set to cause a second post-2008 collapse, a senior banker warned this week as he set out tough preconditions for a sustained recovery.
“My suspicion is that we are heading into a period of weaker demand growth in the major shipping trades, which, coinciding with a renewed increase in newbuilding deliveries in 2015 and 2016, could lead us into a second leg of the post-2008 shipping cycle,” Lazard senior advisor and head of shipping Peter Stokes said this week.
Stokes
