2016, a review of the year that was, for shipping and freight !!! Hmmmmm, what can I say about 2016..
I don’t recall a more tumultuous year for shipping, especially the containerised variety than 2016.. Even the infamous recession and depression of 2008 fades in comparison to what 2016 has wrought upon the shipping industry..
Why do I say that..?? Well, 2016 has mostly been a year of total unpredictability as far as shipping and freight is concerned with a lot of activity (both negative and positive) happening within the Top 10 Container Lines causing some major upheavals in the positions within the Top 10..
It has also been a year of spectacular and unprecedented happenings like the collapse of Hanjin Shipping which became the single largest shipping news item in 2016 causing a momentary wide-spread panic in the containerised world and flaming speculation of other lines going bust, but the panic and speculation seemed to have settled down soon enough..
2016 was also a year of consolidation and integration with
- the merger of China Shipping/Cosco Container Lines
- the merger of Hapag-Lloyd/UASC
- the announcement of an impending merger by 3 major Japanese carriers NYK, MOL and K-Line
- the acquisition of NOL by CMA-CGM and most recently
- the acquisition of Hamburg Sud by Maersk Line
Do you remember any other year in recent history where so much happened in the shipping world..!!
2016 also saw most shipping segments, except maybe for tankers bottoming out with historically low levels of freight rates and weak earnings..
The tanker market remained strong mainly due to the consistent drop in oil prices whereas in the container segment, freight rates declined steadily inspite of a knee-jerk but short lived increase in freight rates following the collapse of Hanjin Shipping..
The container market continues to struggle with weak demand but more importantly due to many of the behemoth container vessels coming in to the service throughout the year..
Measures like idling, slow steaming, consolidation, restructuring of alliances, integration etc has not slowed down the falling market..
So yeah, all of the above has left the shipping pundits and economists scratching their heads to get a grip on what the market is actually doing or will do..
While the pundits are busy guessing away and keeping all of us guessing about the state of shipping, something that I don’t have to guess but can rather be sure of, is the unwavering and unstinting support that I have received from YOU my dear reader..
Your support to my blog has been rock solid and you have been absolutely amazing with your contribution in terms of comments on the articles and questions that trigger such articles..
Your support and encouragement saw me churning out 59 quality articles in 2016 🙂 for which I thank you immensely and hope to maintain and improve this support in 2017..
As 2016 winds to a close and as most of the world is getting ready for a holiday eatathon, I thought I would wind down the year with a rating of the best articles of 2016 for Shipping and Freight Resource..
Here are the TOP 10 articles of 2016 based on the number of times these articles have been viewed across the year..
While the above were the most viewed articles in 2016, the KEY QUESTION is :
From all the articles on the site, which article(s) did you find the most helpful..??
If you would like to refresh yourself of all the posts, pls click here.. Feel free to comment on this post and share your favourite article..