2015 would be a more or less stable year for the maritime industry given the continuous lowering of oil prices across the globe. The dry bulk segment would see a flat year with Maritime industry growth expected at around 5.5% in 2015, compared to 5.4% in 2014. The tanker segment of the industry is expected to record a nominal growth of 1.7% in 2015 compared to a 1.3% rate of growth in 2014. The container shipment segment, which would probably see a drop in growth at around 5.8% in 2015 compared to a growth rate of 6.2% in 2014. The tanker and the container segments within the maritime industry would benefit most from the lower global oil prices.
Bangalore, India -- (ReleaseWire) -- 10/07/2015 --Experts predict that the 2015 would be a more or less stable year for the maritime industry given the continuous lowering of oil prices across the globe. The maritime industry would be driven by a development in the emerging markets and the developing economies as they are set to achieve a combined growth rate of 5.0% in 2015 compared to 4.4% in 2014.
The advanced economies are expected to stabilize, except for China, with a growth rate expected to be around 2.3% in 2015 which was 1.8% in 2014.
Experts are of the opinion that the dry bulk segment of the maritime industry would see a flat year of growth in 2015 as the segment finds a new "normal" level of supply side growth as expected around 5.5% in 2015 compared to 5.4% in 2014.
The tanker segment of the industry is expected to record a nominal growth of 1.7% in 2015 compared to a 1.3% rate of growth in 2014. For oil tankers the prospects are more in the short term due to reducing supply side growth.
In the clean segment, it is estimated that the supply side growth would be around 4.6% in 2015 whereas it was around 4.3% in the preceding year.There is bad news for the container shipment segment, which would probably see a drop in growth at around 5.8% in 2015 compared to a growth rate of 6.2% in 2014.
The maritime industry, however stands to gain from the reducing global oil prices for the last one year. Industry estimates are that the oil prices would continue to be low, around the $50 mark per barrel, for the most of 2015 and 2016.
The tanker segment is expected to benefit most from the fall in oil prices with VLCCs closing in on the $100,000 a day level at the end of 2014 and delivering the best average rates across the year since 2010. 2015 would be a good year for the tanker segment and would, in all probabilities, be a year of much needed profit.
In 2015, the container segment would be marketed by the ultra large container ship and the mega-alliances. A low bunker price for the segment would ensure that the segment would be able to profit from supply side denominations emanating from the lower oil prices.
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