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Industry Outlook

The outlook for the shipping industry is uncertain due to numerous factors, such as U.S. and China trade tensions, geopolitics, fuel economies, and environmental concerns. Of top concern, however, is the effect of the coronavirus (COVID-19) pandemic on shipping businesses around the world. As described in a PricewaterhouseCoopers report, COVID-19 "may adversely impact a shipping company's projected cash flows, such as a decrease in future charter rates, increase in off-hire days, increase in fuel prices, increase/decrease in operating expenses, increase in inflation, increase in a company's discount rate, etc." There continues to be high demand for shipping vessels in the U.S., and around the world, where there are COVID-19 hotspots.

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