THE INFLUENCE OF THE GLOBAL ECONOMIC CRISIS ON THE EVOLUTION OF LINER SHIPPING MARKET

2009 was a bleak year for freight rates in liner sectors. The deepening of the global financial crisis has affected, severely, the demand for commodities and goods. By the end of 2009, rates in liner sectors had recovered from their earlier lows, despite remaining significantly beneath 2008 levels. Freight rates for 2010 and beyond remain uncertain, as recovery from the global economic crisis is surrounded by doubts. This paper covers freight rates in the liner shipping market and contains information on recent developments in that area, followed by an analysis of how freight rates have performed over the course of 2009 and into 2010.