However, a rising oil price, which is expected to be 20 percent higher than last year at between US$60 and US$65 per barrel, would translate into higher fuel costs, he added. Taiwan's Yang Ming Marine Transport Corporation has released a bearish outlook for 2018 amid slow demand in the worldwide container shipping sector. The company said it expects global freight volumes to grow by just 1 percent this year, compared with an average of 3 percent growth over the past five years. Earnings would depend on market conditions and oil prices and prospects for the sector as a whole remain unclear, said Chairman Bronson Hsieh.
Taiwan's Yang Ming Marine Transport Corporation has released a bearish outlook for 2018 amid slow demand in the worldwide container shipping sector. The company said it expects global freight volumes to grow by just 1 percent this year, compared with an average of 3 percent growth over the past five years. Earnings would depend on market conditions and oil prices and prospects for the sector as a whole remain unclear, said Chairman Bronson Hsieh.