FTW pick: Industry assesses impact of yuan devaluation

The devaluation of the Chinese yuan could see even greater volumes of imports moving into South Africa as the products become cheaper.

But it’s still a bit early to tell what effect the devaluation will have on the shipping industry, according to Glenn Delve, marketing director in SA of Mediterranean Shipping Company (MSC).

He believes that it “will have a bearing on shipping in due course”.
Another line executive on the Far East trade suggested that everybody seemed to have a different view of just what this devaluation held for the maritime sector.

“It’s definitely a pot of mixed feelings,” he said. “But, as Delve said, it’s really a wait-and-see situation.”

To read the full FTW article, click here.