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BIMCO has at the latest meeting at the International Maritime Organization (IMO) called for clarification and guidelines for shipowners and flag states in cases when ships cannot buy compliant fuel in a port from 1 January 2020.
“The importance of China to the shipping market is second to none. This goes for all major shipping segments. In spite of leaving the double-digit growth rates behind us in the previous decade, the sheer size of the world’s second-largest economy now gives so much impetus to our industry that we have become addicted to China.”
This recession was caused by a financial crisis, and what we do know about recessions caused by financial crises is that they are followed by very weak recoveries.
