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Global shipping sector forecast to maintain mild recovery next year |
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Tuesday, 08 December 2009 |
 The worldwide shipping industry, which suffered a severe downturn due to the economic slump, is expected to see a steady recovery next year on the back of increasing trade volume and an eased oversupply of vessels, a Korean institute said Monday, according to Yonhap News.
According to the Korea Maritime Institute (KMI), trade volume is
expected to increase around 3.7 percent annually over the next few
years, and operations of ships will decline due to delayed deliveries
of new vessels.
Container shipments worldwide will increase 3.7 percent next year, but
global ship oversupply is likely to continue into next year with
container ship tonnage growing 11.1 percent next year to 14.93 million
TEUs (20-foot equivalent units), it said.
"The global shipping industry is likely to continue its mild recovery
into next year as trade volume rises on economic recovery and ship
oversupply eases," it said.
Source: Korea Herald
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