Vessel over-supply predicted

Container shipping is facing a
potential oversupply of vessels,
which should lead to more layups
suggests the latest survey
from the shipping industry
association, Bimco, published
by Hellenic Shipping News.
According to the report,
the organisation forecasts
the inflow of new container
tonnage in 2011 to be at
1.3 million TEUs. As the
young fleet holds a very
limited demolition potential,
the fleet is forecast to grow by
8.7% in 2011 – equal to and
outweighing demand growth by
close to 2% points.