Container segment of Indian coastal shipping to bear the brunt of Covid-19: ICRA

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Container segment of Indian coastal shipping to bear the brunt of Covid-19: ICRA

According to the credit rating firm, ICRA, the country’s coastal shipping market, which has seen healthy growth with Govt drive in the last few years, would be seeing some adverse impact in the near term, primarily in the container sector. Whereas the effect on the bulk segment should be minimal owing in large part to the critical quality of certain goods which the lockdown does not affect.

The near- outlook for large shipping segments such as dry bulk, containers and offshore is pessimistic according to the ICRA report. Exceptions to this phenomenon include oil tankers where the steep decline in oil prices has resulted in a rise in competition- energy supplies and floating storage. As a consequence, the tanker prices have seen considerable improvement while the longevity of such elevated levels remains to be seen in the short term.

Src : itln.in

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