Reported 2 months ago
Euronav, a leading oil tanker company, projects a 5.1% rise in global seaborne trade this year, largely due to rerouted shipping through the Red Sea. However, they caution that upcoming U.S. presidential elections and a weakening Chinese economy pose significant risks. Political changes could affect global trade dynamics, while China's low consumer spending may dampen oil demand. This unpredictability in geopolitics and economic performance could disrupt shipping rates and overall industry growth.
Source: YAHOO