Cao Wenjin

2012-08-21

Initiator of IMC Group Cao Wenjin: It is predicted that the shipping industry will recover from the year of 2017

The initiator of IMC Group Cao Wenjin expressed during an exclusive interview recently that, the low ebb in the global shipping industry was vigorous with a longer cycle than expected, and the shipping industry would not probably have the opportunity for recovery till 2017. Besides, the freight was on the decrease and it would fall by 20% in the following two years. The ship owner shall reformulate the strategic deployment according to the actual situations. The 87-year-old Cao Wenjin warned the industry that “you can survive only with sufficient money”.

Cao Wenjin elaborated on the present and future situation of the shipping industry in the head office of Zhonghuan Corporation. According to him, the current low ebb would be longer than expected and the global dry bulk cargo would face a thorough reform.

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