How a global recession could impact ocean shipping

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Are we approaching another global recession? The signs certainly don’t look good. Freightwaves has, however, put together a useful report on how the “pending” economic slump would hit the shipping sector. And it ain’t good. The financial crisis that hit in 2008 crippled ship owners with the aftershocks continuing to jolt the industry in ways it didn’t want to be jolted. In theory, consolidation could help – consolidated liners equates to lower costs – but the debts built up in financing the transactions are yet to be cleared.