Is the global shipping market slowly turning around?

SINGAPORE (Aug 16): The global shipping market might be on the cusp of a real recovery after spending a decade lost at sea.

Since the global financial crisis, the industry has been dogged by over-capacity and sputtering global trade, but Clarkson, one of the world’s largest shipbrokers, says it is seeing “very early signs” of a revival.

“This is a fundamental turnround and not just a short-term spike in the market,” says Andi Case, chief executive of Clarkson, which saw a 25% increase in pre-tax profits to £21.9 million ($38.6 million) in 1H17 ended June on revenues of £157 million.

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