Thursday, December 29, 2016

Passing the Baton 2017

A year full of shocks and surprises is passing the baton to yet another Happy New Year 2017.

2016 was a turbulent yet interesting year for shipping. Oil prices and BDI saw record lows in a decade. It was the year when bankruptcies, mergers & acquisitions; all were happening at the same time. It was particularly a bleak year for the offshore oil n gas industry mainly due to ingress of Iranian barrels, while it was the big boys bullying at the box shipping. Dry bulk sector got up after biting dust whereas, oil tankers maintained their average earnings. The cause of poor freight show has been but not limited to mainly oversupply of tonnage, which has grown leaps and bounds in the last decade.

Its not only shipping, but our entire planet weathering winds of change. Be it environment, politics, technology or lifestyle. While climate is seeking the red corner, world politics is seeking the right-wing.  ISIS, Brexit, Modi, Duterte, Trump, Chinese territorial ambition, North Korea's nukes obsession etc, all indicate to the hostile re-alignment of world forces in the coming years.

In spite of the overhanging sword, Shipping Mario will  keep cruising through the troubled waters, so I wish.

A happy & safe New year 2017 to all.