1990s: Treading Water and Renewal
Following a brief market recovery in the early 1990s, the shipping environment took another turn for the worse, with low freight rates prevailing for most of the 1990s. In a stagnant market with little short-term optimism, many shipping companies saw their shares languish and some owners started to consider leaving the market.
The decade started with pessimism, but ended on a high note. World-Wide Shipping acquired N&T Argonaut (NTA) in 1999 and together with the delivery of six newbuildings, this helped increase World-Wide’s fleet size by 24 ships in the space of three months.