Citing weak global trade growth and persistent overcapacity, India Ratings and Research (Ind-Ra) has maintained a 'negative-to-stable' outlook for the shipping sector for the current financial year. "The performance of dry bulk and container operators is likely to continue to be affected by weak global trade growth and persistent overcapacity, while the offshore segment will face the negative impact of lower crude oil prices," it said in a statement. The agency, however, believes that the tanker segment, which accounts for a majority of the Indian fleet will remain an exception due to its better demand-supply situation.