Where shipping markets are headed in mid-2024

There are several elements of volatility affecting our shipping market forecasts for the second quarter of 2024. The Chinese economy’s recovery currently casts a shadow of uncertainty over the industry due to China’s pivotal role as a major demand driver. Elevated interest rates in Western economies heighten the risk of a severe downturn, potentially stalling prospective growth. Ongoing geopolitical tensions, coupled with related repercussions and sanctions, add to an atmosphere of uncertainty; any notable escalation or de-escalation in these conflicts could profoundly affect the broader economic trajectory. And lastly, the potential for disruption in the Panama Canal and Suez Canal, influenced by both natural occurrences and the unpredictable nature of certain military groups, is injecting an additional element of instability into the economic landscape.

Compiled by Veson Nautical’s Shipping Economists and updated every quarter, our Market Outlook forecasts provide valuable insights and analysis into the future while incorporating current geopolitical events. Request your forecast today: Get Insights..