Cargo Business Newswire

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Friday, January 20, 2012

Two more years of container overcapacity, says Platou

RS Platou, Norway’s largest shipbroker, projects another two years of struggle in the container and tanker shipping markets due to overcapacity and slow economic growth.

A company official said it will be 2013 before the industry works through global oversupply issues, which has reduced demand, increased cancellations and spurred delays in new ship construction.

New ship orders will fall 10 percent this year due to limited bank financing, according to Deutsche Bank AG, which projected a drop 44 percent drop in orders for container ships and an 11 percent drop for tankers.

Platou expects to see consolidation and restructuring in the shipping industry this year, particularly in the tanker market.

- Bloomberg

Read the complete story: www.businessweek.com