The forecast cycle took another step in the right direction with the IMF raising its 2021 and 2022 estimates by 0.5% and 0.4%, respectively, to +6.0% and +4.4%, citing optimism on vaccines and continued successful policy support, although many challenges remain.

Forecasts were higher for all main economies, led by oil intensive India which is expected to grow by 12.5%.

Importantly, the +4.4% forecast for 2022 is also well above trend. Trade, and thereby shipping, should benefit from stronger GDP growth.

As such, we view this as good news for all the various shipping segments.