Sector will survive 2020s perfect storm, says shipping boss
Genco Shipping & Trading CEO says the industry will spring back as demand will increase after the virus outbreak and slowdown in China
22 February 2020 - 07:13
Singapore — The global shipping industry has run into rough waters in 2020 as the virus crisis that has engulfed China and roiled commodity markets added to headwinds from a seasonal slowdown and poor weather. One CEO who oversees a fleet of 55 vessels says there will be a comeback.
“This is certainly temporary,” said John Wobensmith of Genco Shipping & Trading. “We think that the second half will spring right back,” the industry veteran said in an interview from New York, citing the potential for stimulus in China aiding demand, coupled with a lower supply of ships...
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