Box Trade Demand Will Finally Surpass Supply Growth in 2020, Says Danaos
Athens-based non-operating containership owner Danaos Corporation said today it expected container trade demand would surpass supply growth next year.....MORE
During its third-quarter results presentation, chief executive John Coustas was bullish on the sector’s outlook, attributing the improving prospects to a combination of low orderbooks and the indirect windfalls for shipowners from the IMO’s 0.5% sulphur cap on marine fuel that comes into effect on 1 January.
“We are aligned with the shipping analyst reports, and our expectation is that container trade demand growth will outpace supply growth for the first time in almost 10 years,” said Dr Coustas.
He noted that the IMF was currently forecasting global GDP growth at 3.5% for next year, while analysts predict container trade expansion slightly higher, at 4%, compared with the growth in capacity, which is not expected to exceed 3%....
