sharon sanders
Editor-in-Chief & President
Shipping’s China syndrome: Demand sinks across multiple cargo markets
Container export growth drops; imports of crude, iron ore, LNG under pressure
Friday, September 9, 2022
In the mid-2000s, when shipping stocks first became popular on Wall Street, the shares were commonly bought as a play on China’s economy. China is pivotal to ocean shipping, whether it’s container ships, oil tankers, bulkers or gas carriers.
“There’s a saying that everything that moves out of China in containers has to come into China as raw materials,” noted Oeyvind Lindeman, chief commercial officer of Navigator Gas (NYSE: NVGS), on his company’s latest conference call.
Ominously, signs of China’s weakening economy are showing up across all shipping sectors at once.
more....
https://www.freightwaves.com/news/s...me-demand-sinks-across-multiple-cargo-markets
Container export growth drops; imports of crude, iron ore, LNG under pressure
Friday, September 9, 2022
In the mid-2000s, when shipping stocks first became popular on Wall Street, the shares were commonly bought as a play on China’s economy. China is pivotal to ocean shipping, whether it’s container ships, oil tankers, bulkers or gas carriers.
“There’s a saying that everything that moves out of China in containers has to come into China as raw materials,” noted Oeyvind Lindeman, chief commercial officer of Navigator Gas (NYSE: NVGS), on his company’s latest conference call.
Ominously, signs of China’s weakening economy are showing up across all shipping sectors at once.
more....
https://www.freightwaves.com/news/s...me-demand-sinks-across-multiple-cargo-markets