Latest news from Heavy Lift & Project Forwarding International Magazine

Global growth boosts shipping, says BIMCO

Economic growth around the world is supporting the shipping industry, says the Baltic and International Maritime Council (BIMCO) in its latest macroeconomic assessment.

The organisation referred to the International Monetary Fund's (IMF) World Economic Outlook for January 2018, which revised its original global growth forecast up by 0.2 percent to 3.9 percent for 2018 and 2019.

The development in global growth is driven by higher growth in advanced economies than originally expected, explains BIMCO.

The IMF now predicts the GDP for advanced economies to grow by 2.3 percent in 2018, and 2.2 percent in 2019. If this growth materialises, BIMCO says it will be highly beneficial to the container shipping industry, as growth in advanced economies generates the highest trade-to-GDP multiplier.

While political events could undermine the development, 2018 is expected to bring fewer economic growth "derailing" events compared to 2017, according to BIMCO.

The organisation points to the US midterm elections in November, the renegotiation of the NAFTA agreement and the UK's Brexit deal as potential derailing factors.

BIMCO concluded: "It has been a long time since macroeconomic development has looked this positive and as supportive of shipping."

 

www.bimco.org

www.imf.org

Heavy Lift | News

AAL delivers for Stockyard thumbnail image

AAL delivers for Stockyard

February 19 - AAL has transported a 305-tonne Toshiba transformer for Australia’s Stockyard Hill wind farm in Victoria on behalf of Cargo Line International. 
Views: 127
Slowing growth threatens shipping thumbnail image

Slowing growth threatens shipping

February 19 - As the International Monetary Fund (IMF) revises its predictions for global growth in 2019 and 2020 - down to 3.5 percent and 3.6 percent respectively - BIMCO says the risks are piling up for the shipping industry.
Views: 137
ARRC names TSL as agent thumbnail image

ARRC names TSL as agent

February 18 - Atlantic Ro-Ro Carriers (ARRC) has appointed TSL Shipping & Trading as its sales agent in the US Gulf. 
Views: 311
Bolloré and Cosco strengthen ties thumbnail image

Bolloré and Cosco strengthen ties

February 15 - Bolloré Transport & Logistics and Cosco Shipping Lines have signed a memorandum of understanding (MoU) to strengthen their commercial relationships, while exploring new opportunities for cooperation in transport, logistics and port infrastructure.
Views: 896

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.