Bankruptcy Looms for Global Shipping Lines


As a result of the 2008 financial crisis and the heavy investment that came before it, global shipping lines are at risk of bankruptcy.

PTI previously reported that the slow rate of recovery in the global economy and low growth potential were both issues affecting the shipping industry’s progress.

As reported by CNBC, Albert Stein, Managing Director at business advisory firm AlixPartners said that the only way shipping lines will survive now is by selling their assets, adding: “It is a very difficult industry to continue to make money in.”

This is further exacerbated by the realisation that shipping lines could be spending as much as US$100bn annually in higher fuel costs due to the 0.5% sulphur cap imposed on all shipping lines.

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