Still boxed in by excess supply
Main lines' gigantism continues to depress freight rates in general, say industry players, but geared feeder vessels below 3,000 TEUs will remain in high demand and see increasing rates. MALMINDERJIT SINGH reports
Add BT as a preferred sourceTHE container shipping industry may continue to suffer this year due to an oversupply problem which will be exacerbated by large vessel orders.
Industry players The Business Times spoke to were less optimistic about the prospects of the industry and attributed this to overcapacity created by the larger liners.
"In my opinion the container industry as a whole will continue to suffer in 2014 as (freight) rate levels will remain at present levels throughout 2014 in most market segments," said Thomas Kriwat, CEO of Mercantile Shipping Company.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
EU and Asean at 50: time for bold action
