While the global shipping industry has suffered ever since the 2009 recession, China has been relatively shielded from the crisis until now because of the huge growth in China during these years. However, this "beacon of light can not be guaranteed for the future. Most shipowners have purchased large vessels to improve efficiency, but if demand does go down over the next few years, China's shippers will not be able to keep the low prices they currently have because there is not point to a grand efficient system if you can't fill the ships up.
http://www.google.com/hostednews/afp/article/ALeqM5jhLnNTsCXoD-4OJDfCvnqbBkGKZQ?docId=CNG.132fb791216c2b96ddd3a57979183eef.131
Lauren Neeleman
It is surprising to me that global shipping was suffering, but that China wasn't affected. It makes sense that this occurred because of their growth, but I would have expected China to follow the global trend. It will be interesting to see how this changes as China's growth slows.
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