For the first time since 2001, Moody's has assigned a rating of "stable" to the global ocean cargo industry, but notes that the condition of world shipping remains delicate and a "negative" rating could return.
Beset by continued sluggish demand, a growing mountain of debt and a radically changing marketplace, listed companies in the global container shipping industry as a whole face a greater risk of financial distress, including possible bankruptcy, than at any time since 2010, and that risk has grown in each of those past three years. That's according to a new study from AlixPartners, the global business-advisory firm.
The global containership fleet larger than 500 TEU, currently idle, has reached its lowest level since October 2011, according to a report from Alphaliner.
Danish oil and shipping group A.P. Moller-Maersk said it has entered into an agreement to explore biofuel as an alternative energy source for its ship fleet.
