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

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 278
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 659
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 735
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 522

Heavy Lift Across The World

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