• Sunday, December 16, 2018

The year ahead by Captain Stephen Brown, Chamber of Shipping of British Columbia - Subscriber Access Only

By BCShippingNews 26 January 2016

Looking back at the history of this country, the year 1916 did not begin well. War raged in Europe with Canadian troops heavily engaged in support of France in the battle of Verdun in which an estimated one million casualties were sustained over 303 days between February and December. At home, Canada’s parliament buildings in Ottawa were severely damaged by fire. Original construction (1859-76) had been badly delayed due to cost over-runs and then to face the prospect of an expensive refurbishment following the fire was a further set back which could hardly have occurred at a worse time. It was not until 1920 that the newly refurbished House of Commons was ready for use.

As we look ahead to 2016 there are a number of key drivers that will steer the course of events including:

  • The hugely damaging low level of both container and dry bulk markets.
  • Excess vessel capacity in most sectors combined with continued pressure on commodity prices.
  • The uncertain price of oil and consequential impacts on the Canadian and global economy.
  • A new government in Ottawa finding its feet and setting direction on many difficult and controversial issues.
  • The uncertain and dangerous geo-political landscape in which we are operating.

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