The Roman emperor Vespasian probably didn’t say pecunia non olet (money doesn’t stink), as is attributed to him. It was said to be a riposte to his critics, when he introduced a urine tax for public toilets, seeking to raise funds from a booming tanning industry.
Our transport and logistics world also has some innovative ideas to counter its rather empty order books these days. Some companies issue new bonds, whilst others recapitalise their financial base with new shares, sell assets or simply renegotiate existing debts – there isn’t an option that hasn’t been tried, as you’ll read in this issue of the ITJ.
These may be tough times, but they also come with a silver lining. The airfreight industry, one of the key indicators of global economic health, felt a fresh breeze under its wings even before the new year was ushered in. Drewry expects the shipping industry’s dry bulk margins to make a comeback this year, and the container shipping segment, in turn, is also predicted to be more stable again. This will be partially thanks to the re-launch of the industry’s major alliances in April, according to Hapag-Lloyd CEO Rolf Habben Jansen, who we met in Basel recently for an interview. Most of the augurs expect 2019 to bring the turnaround, with demand and supply back in a healthy relation.
Not bad prospects, we could say. Enjoy your read!