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The depressed state of the shipping market, due mainly to excessive vessel tonnage, is making it difficult for companies to actualise mergers and acquisition (M&A) deals, which are seen as a cure to the deflate the supply glut, industry players observed.

UK Shipping Minister Robert Goodwill MP has formally opened a new ‘Maritime Knowledge Hub’ in Wirral, UK, jointly operated by Mersey Maritime and Liverpool John Moores University.

The Chinese ministry of industry and information and technology (MIIT) has released a development blueprint for the ship equipment industry under China’s 13th Five-Year Plan for 2016 to 2020.

Cyprus shipping has evolved into one of the leading sectors of the Cypriot economy as well as becoming a major political lever for the betterment of the Eastern Mediterranean region and as the government is determined to ensure the sector is not only "protected" but “is developed and enhanced”.

A general strike in Greece has affected ferry and shipping traffic at the ports of Piraeus, Aspropyrgos, Eleusis, Pachi and Megara.

The new theme for 2016’s World Maritime Day is “Indispensable shipping” to reflect the impossibility of sustaining world trade without it.

Shipping will remain “volatile and uncertain” in 2016 thanks to unpredictable Chinese demand and a complex geopolitical picture elsewhere, according to shipping adviser Moore Stephens.

As we sail into 2016 it is fair to say that 2015 is a year that many in shipping, excluding tanker owners, would be happy to forget. So dusting off our crystal ball Seatrade Maritime News looks at what lies ahead for the industry and are there any better prospects ahead in the coming year?

The International Chamber of Shipping (ICS) has “greatly welcomed” the verdict of the UN Federal Climate Change Commission (UNFCCC) Paris COP21 agreement excluding shipping, as well as aviation, from its regulatory framework.

Confounding expectations, the European Community Shipowners’ Associations (ECSA) has joined Maersk in calling for the re-inclusion of shipping in the COP21 climate deal. 

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