Drewry Maritime Research asks: will carriers repeat the same tactics that saved them in 2009, or will they wait until things reach boiling point, as the risk of a double dip recession rears its head?
Today’s market does share some similarities to the 2009 crisis: carrier staff redundancies, ultra-low freight rates and the rapid increase in the number of ships being idled.
It’s never easy second-guessing carriers’ actions and much will depend on how bad things get and how much cushioning they have. Therefore, it’s worth examining the similarities between then and now and to look at the relative financial health.