Sailing on choppy waters Shipping industry faces challenging environment pressured by weak demand and rising rates

KUCHING: Hubline Bhd has painted a bleak outlook on the shipping industry in the face of softened demand for shipping services, increased competition, rising fuel costs and stagnant freight rates.

Under such a challenging environment, the company said it would continue to review various trade routes for the deployment of its cargo ships to increase vessel capacity utilisation rates and profitability.