Ratings agency giant Moody’s said shipping companies’ profitability has passed its peak, and it has downgraded the sector’s outlook from "stable" to "negative" as a result. Moody’s global shipping outlook had been stable since December 2021.
Moody’s effectively sees shipping as a victim of its own success, with container ships and bulkers unlikely to match rampant rate levels seen earlier in 2022.
“Rapidly slowing growth in Europe’s largest economies amid general high inflation and soaring electricity prices, and a bleaker outlook for global economic growth, pose risks to the industry as a whole,” the agency said.
