If bulk shipping was a person they would likely be diagnosed as having split personality disorder and probably committed to a loony asylum (thats not politically correct - yes I know). The tanker market is artificially pushed to crazy levels due to an oil war (although that market is changing rapidly), the cruise market decimated due to corona (will it ever come back to previous levels?) and a dry bulk market where its hard to figure out how many shipowners and operators are going to survive.
Sure the last week or so there are good signs out of China but my sense is we are looking for anything to be optimistic about. China doesn't operate in a bubble and yes their domestic market is huge but they rely on western consumers to buy their stuff. From a supply perspective it appears that political tensions with Australia and other western countries means that China are flexing their muscles and playing hardball on coal imports and grain shipments.
That doesn't come without a cost on both sides of the spectrum. There is a reason trade historically flows between nations and mostly it down to pure economics. Once we mess around and throw politics into the equation then resources don't necessarily get placed where they should.
So where does that leave the shipping industry coming to the end of the financial year? Its bonus time people and there will be have and have nots. The tanker community will probably be happy but nervous. Any shipping companies (brokers, shipowners etc) that have diversified business's across all major markets will also be ok.
But some are struggling and the whispers are only getting louder.
What can we do as companies and individuals but hustle like we always do. Although the above is true how much has really changed?
Focus on
- Quality
- Improvement (continuous learning)
- Relationships (help each other out)
- Adaptability
- Flexibility
- Stay positive
VS
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