Undoubtedly, almost all shipping subsectors are currently undergoing the most challenging market conditions in a long time. The financial performance of companies in the shipping sector in the year 2011 has deteriorated sharply.
The outlook for shipping remains bleak in 2012 due to the continued delivery of large numbers of ships into a depressed freight market that has little hope of improving while macroeconomic fundamentals remain rather weak and there remains significant uncertainty on how various ongoing issues might be resolved.
The interim results of shipping companies for the first half of 2012 in Chapter 1 points to a further deterioration of financial performance in 2012 that will most likely continue to the end of the year. The new “Global Shipping Benchmarking Analysy 2012” also discuss developments in the area of sustainability reporting and corporate social responsibility in shipping as this is rising up in the agenda of regulators, industry bodies and consumers.
As in prior years this analysis looks at certain key performance indicators (KPIs) of more than 150 shipping companies from around the world. Financial data have been derived from publicly available financial statements of years from 2007 up to and including 2011.