Calmer waters are ahead for the shipping industry in Europe, the Middle East and Africa (EMEA), according to Fitch Ratings forecasts for 2015.
The stable outlook for 2015 is based on expected rebound of sector fundamentals, however oversupply and volatility in rates are likely to persist.
Fitch Ratings forecasts in its latest report that the container shipping will remain under pressure with capacity expansion outstripping demand growth contributing to weak freight rates in 2015.
Dry-bulk shipping is expected to see moderate improvements coupled with balancing out of supply and demand in tanker shipping which will prompt a rise in tanker rates.
The LNG and offshore segments are expected to retain their sound performance in 2015, according to Fitch.
With respect to financial strategies to be adopted by shipping companies, rigorous cutting of costs can be expected in addition to continued slow steaming practice, Fitch added.
World Maritime News Staff; Image: WSC