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BIMCO Sees Bright Future for Shipping

On the 3rd of January, 2013, BIMCO issued “Reflections 2013,” a study of the problems currently facing shipping and in the near future. It emphasizes the regulation of the world shipping industry as well as the use of sensible and practical methods for alleviating the problems faced by the modern world of shipping. It further goes on to inform that the basis of the shipping companies, and the personnel therein, should be educated and treated fairly and in line with what is expected from large companies. Macroeconomically, BIMCO has stated that due to the escalation of GDP and world trade, 2013 seems to be a year that could see a turn in fortunes of the shipping industry. Even though this may hearten some, the fact remains that ships ordered to deal with a surplus of tonnage that never materialized could impact this scenario badly and could lead to a global slump, the likes of which some companies would be unable to recover from. To conclude this analysis, BIMCO has stated that the numbers must be considered along with these negative factors and may lead to some bleak times for the industry. Regulation is a talking point in “Reflections 2013” since… read more »