|
To make matters worse, anything that comes from overseas manufacturers is going to be slowed down by shipping shortages.
Shipping lines are scrapping their ships in record numbers.
The demand for iron and steel in China is through the roof as the country spends big on infrastructure to pump prime their economy in response to COVID impacts. However, drops in demand for goods and materials around the world has caused reduced demand for shipping. So ship owners are selling ships for scrap to feed the demand for metals in China and to reduce the ship owners unproductive overheads.
|