Fitch Ratings has changed its 2025 outlook for the global shipping sector to ‘deteriorating’ from ‘neutral’

Fitch Ratings has changed its 2025 outlook for the global shipping sector to ‘deteriorating’ from ‘neutral’ due to expectations of weaker demand, particularly in container shipping and dry bulk.

Tanker shipping is likely to be more stable, benefitting from continued higher-than-average profitability supported by tonne-mile demand dynamics and the potential for oil inventory restocking due to lower oil prices, it noted.

Container shipping profits are set to decline significantly in this year from 2024 levels, which previously benefitted from Red Sea disruptions that increased freight rates.

Container volumes in 2025 could be flat or slightly decline compared with last year due to the impact of US tariffs; Fitch expected about 3-per cent growth in early 2025.