Sailing across choppy freight markets

Shipping companiesare upbeat on medium- to long-term prospects and are going ahead with expansion plans.

Shipping companies may have seen marginal gains in net earnings during the second quarter this fiscal compared with the corresponding quarter last fiscal, but ship-owners remain worried over the continued volatility and dampness in global freight markets. Many owners think that freight rates, both in the tanker and dry bulk segments, will remain under pressure and that their earnings from shipping operations may not look up in the current quarter.
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Source: The Hindu Business Line