Economy
December 10, 2013
Ocean Shipping Rates Increasing
Written by Sandy Williams
Earnings for the shipping market are bullish right now according to the Dec. 4 MID-SHIP Report, with continued optimism for next year’s market. Average earnings for forward freight agreements in 2014 are expected to increase by 13 percent for Handysize, 18 percent for Supramax, 22 percent for Panamax and 28 percent for the Cape market.
MID-SHIP continues to express concern over the number of orders for new vessels, worrying that supply could exceed demand again in another two years.
