Profit of working in this sphere to be reduced - rating agency`s survey


July 8, Fineko/abc.az. Rating agency Moody's forecasts that this year, against the background of the COVID-19 pandemic, international shipping companies' earnings before interest, tax, depreciation, and amortization (EBITDA) are going to decrease by 16-18%.

ABC.AZ reports with reference to news agency APA that this is stated in rating agency’s survey.

The previous forecast presented in March made up 6-10%. Expecting the recovery process to be long and uneven, the agency says supply demand will be felt higher and this will continue.

Moody's experts, who analyze various segments of sea transportation, also note that demand for supply will exceed 7% in the cargo segment, 13% in the container segment and 1% in tanker transportation.

The agency gave a stable forecast on sea transportation only by tankers in the specified destinations.