China’s two biggest shipowners said a market slump may continue for at least two more years as more vessels enter service and the country’s economic growth slows.
China’s stocks plunged, driving the benchmark index to an eight-month low, on concern government measures to curb property speculation and cool inflation will hurt economic growth.
China’s stocks plunged, driving the benchmark index down the most in almost eight months, on concern a government crackdown on the property market will increase bad loans and damp consumer spending.
Stocks fell in Asia and Europe, U.S. futures declined and the euro weakened to its lowest level in almost 14 months on growing concern Greece’s debt crisis will spread and derail the global recovery.
"In the coming two years, it's unlikely that the world shipping sector will bottom out."
- Xu Lirong on Sep 20, 2012