MER ET MARINE : Following a detailed BIMCO* report on maritime freight rates published in June 2016, the association has released a critical analysis of the current situation and outlook for global dry bulk transport. Why publish a document like this now?
* BIMCO — the Baltic and International Maritime Council — is the largest international shipping association.
PHILIPPE LOUIS-DREYFUS: Because I think it’s important to step back and take a thoughtful look at this complex market which is going though an unprecedented crisis right now. To better understand and anticipate trends, we need to distance ourselves from pure statistical and quantitative analyses. There are plenty of reports in circulation at the moment from the public and private sector and the industry’s social partners. We have read a pile of reports on freight rates, labour, environmental and technical regulations, and maritime security. BIMCO’s own study of projected freight rates, issued in June, estimated that in the best case scenario prices are unlikely to recover until 2019.
But until now, none of these publications has included qualitative commentary or sociological considerations concerning the different maritime sectors and…
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