📈 Global Shipping Outlook Deteriorates for 2026 - Fitch Ratings

Fitch Ratings maintains a deteriorating outlook for the global shipping sector in 2026, citing significant geopolitical and policy risks. • Key Drivers: • Expected lower GDP growth across most major economies in 2026 compared to 2025. • Potential for financial market corrections. • Moderated expectations for volume growth, especially in container shipping, due to tariff disputes. • Uncertainty around Red Sea transits resuming, which could reduce tonne-mile demand. • Segment Performance: • Container shipping: Expected to weaken in 2026 due to lower freight rates and weakened supply-demand balance, leading to reduced profits. • Tanker shipping: Anticipated to continue performing well, particularly crude tankers, driven by growth in end demand and tonne-miles. • Bulk tanker segment: Likely to show weak but stable fundamentals YoY. • LNG shipping & Car carriers: Performance expected to remain broadly stable. • Capacity & Costs: • Moderate increase in shipping order books and capacity, while vessel scrappage remains low. • IMO’s Net Zero framework (if approved) is likely to increase cost pressures on shipping companies over the medium term.