SSY 2023 Outlook reportPosted on 31 Jan 2023
Welcome to our 2023 Outlook report.
You can read the full report here
I think we can all agree that 2022 has been one of the most tumultuous on record with global factors having a major impact on shipping and commodity markets.
The fallout from the ongoing conflict in Ukraine has resulted in serious repercussions throughout 2022 and will undoubtedly continue to have a major effect well into 2023. While COVID-19 looks to be behind us “on paper”, its lingering effects are still being felt and continue to impact global supply chains. As a consequence, we’ve experienced a general slowdown in economic growth and an increased tightening on monetary policy with interest rates increasing in response to rising inflation.
Added to this, the decarbonisation of shipping markets continues to be an important challenge and one that we must collectively tackle head on. The IMO is attempting to improve the carbon performance of existing fleets, while working to encourage moves towards low or zero-carbon fuel alternatives. How effective these measures are in real terms remains to be seen.
In this report, SSY experts examine how these factors have influenced shipping markets in 2022 and provide insights as to what we can expect in 2023. Suffice to say, the forces as outlined above will continue to shape our business in the year ahead.
Wishing you all the very best,
Simpson Spence Young