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Oversupply remains a key challenge for shipping, ICS warns

Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that preventing overcapacity and unsustainably low freight rates continues to be a major challenge ten years after the massive downturn of 2008. Mr. Bennett noted that shipping companies should show restraint when ordering new ships, in order to prevent stifling recovery.

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ICS released the latest Flag State Performance Table

ICS published the latest update of its Flag State Performance Table. In the report, ICS analyzes how the administrations performed, by providing an annual overview of the world’s ship registers against a number of criteria. The Flag State Performance Table presents the performance of individual flag states worldwide, and analyses the administrations' performance based on a number of criteria.

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