Megaships worsening glut in container market

London

CONTAINER shipping lines are poised to take delivery of a new generation of "megaships" over the next two years, just as the growth of world trade is slowing down, contributing to massive overcapacity in the market.

Megaships, which can be up to 400 metres long, seem to be here to stay, not least because so many more are already on order, the product of high fuel costs and low interest rates.