Indian shipping cos struggle due to trade war, corrective pollution actions

The pressure on shipping cos to take corrective actions to curb pollution as they grapple with the fallout of a tit-for-tat trade war between the US and China will add to the burden of the industry

Like most of their peers across the globe, Indian shipping groups have remained under the weather for most of the decade. This is because the lingering overcapacity in world tonnage has kept freight rates low, alarmingly so for some segments. A UK-based observer puts the situation in perspective by saying that while the World Trade Organisation is foreseeing merchandise trade volume growth of 4.4 per cent in 2018, firmly above the post crisis average of 3 per cent, there will still remain too much unused ocean freight capacity. More and more old vessels should be consigned to ship breaking yards. 

Expectedly,