The past four years have been a bonanza for global
shipping lines and their investors. Are they ready for the trade
and supply chain disruptions that will be unleashed in
2025?
For years, shipping was in the doldrums. The Global Financial
Crisis of 2008 hit shipping rates hard. Growth remained anemic
until the pandemic. For a few months, it seemed the industry would
collapse. Investors faced capital calls. Ships were idled and
capacity was retired. Just as suddenly, the industry found their
fortunes on the rise. Rates hit historic highs and kept climbing.
Even in the face of high interest rates, demand for shipping
continued to grow.
Big shipping organizations and their shareholders have been
enjoying the bonanza. Many have been using the windfall to reward
their investors through share buybacks and dividends. They have
been ploughing profits into capital market instruments and bonds,
likely as a hedge against future down-markets. And they have been
ordering new
