Questor: shipping broker Clarksons is yet to reach the high-water mark as its shares sail higher
Clarksons has seen the shipping industry bob up and down many times since it was founded in 1852
So much for protectionism. President Trump might have trashed various trade deals and made a priority of cutting Americas trade deficit, but no one seems to have told the US port authorities.
Many of the largest ports are breaking traffic records this year despite the America First mantra. The flow of goods has been helped by the improving US economy, but global trade as a whole is on the up.
It makes for a topsy-turvy time for shipping. Last year was one to forget for the container industry, when the top 20 operators posted combined net losses of $5bn (3.7bn). There was an ocean of trouble: the low oil price hit tanker demand, new vessels flooded the market, cargo volumes stalled, and there was the high-profile collapse of Hanjin Shipping of South Korea to contend with.
Today, freight prices are on their way back up from rock bottom. In another boost to sentiment, the market leader AP…
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