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It will come as a welcome relief to ocean carriers struggling to return to profitability that, according to a leading economist, the world’s major markets are heading in the right direction, laying the foundations for demand growth this year and next.

Speaking at the TPM conference in Long Beach last week, Dr Walter Kemmsies, chief economist of the Moffatt & Nichol Economics Group, gave an upbeat take on the health of the world’s major economies and the stabilising of emerging markets this year and “a bit beyond”.

So it seems that with this positive backcloth, all the carriers now need to do is be disciplined in supply and demand?