The global nature of shipping makes it vulnerable to social, political and economic upheavals around the world and creates unlimited risks for shipping companies. Let us examine a range of risks and uncertainties that carriers should anticipate to avoid causing any damage to their operating environment. For an industry that carries almost 90 per cent of the world trade, the ups and downs in the global economy can be highly detrimental. The 2008 US financial crisis that spread to Europe and Asia triggered one of the worst trade slumps in container shipping’s history, the effects of which are expected to be long and deep.
The Long Night is Coming
2 years ago