Ship Glut Clouds Long-Awaited Recovery

November 01, 2017

Container shipping is emerging from a painful six-year slump, but a glut of tonnage that will hit the water over the next two years threatens to derail the nascent recovery. In recent months, Mediterranean Shipping Co. and CMA-CGM SA have each announced orders for 11 mega-vessels. Together, with existing plans by Asian giants like Cosco Shipping Holdings Co. and Evergreen Line, the moves mean dozens of these vessels will be delivered by 2020.

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