Shipping outlook stays negative in 2017. Overcapacity inthe shipping sector in 2017 putting pressure on freight rates and driving further consolidation and defaults. All segments wI’ll be under pressure but tanker shipping will face slightly less stress than dry bulk and container shipping. Funding is more critical for companies that are not able to cover their upcoming maturities. In 2017, shipping companies defaults are likely to be concentrated among companies with weak liquidity.