‘Vessel supply will outpace cargo demand through 2011’

Ocean container carriers face overcapacity for at least another 12 months as the supply of new ships outpaces slowing cargo demand, an industry analyst forecast.
The global container ship fleet will expand by an average annual rate of 8.7% over the next two years, with 1.2 million 20-foot equivalent units due to be delivered in 2011 and 1.33 million TEUs in 2012, Paris-based Alphaliner said.
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Source: The Economic India Times