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Shipping still besieged by problem of overcapacity
In his final article of the year analysing the shipping industry in crisis, Paul Slater sees an opportunity amid the continuing problems to regroup and move away from casino economics
Paul Slater - Thursday 24 December 2009
AS 2009 draws to an end, most people in the shipping industry will be hoping for a happier new year.
The industry is still, however, mired in a crisis of its own making, namely the wildly excessive ordering of new ships of all types without regard to the huge growth in demand for shipping services that would be needed to employ all these vessels.
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