News
The Shanghai International Shipping Institute has recently published a report titled ''The International Shipping Market Analysis (2013 Review and 2014 Outlook)."
In the container shipping sector, the report said that global container shipping volume has made a slow recovery during 2013, reaching 160.2 million TEUs, an increase of 4.77% over the previous year. Nevertheless, container ship deliveries outpaced the demand at historically high levels to 17.367 million TEUs in 2013, an increase of 6.99% compared to 2012, and this overcapacity situation has intensified market competition environment in liner shipping, the SISI added.
The report predicts international container market will see a 6.12% increase in demand reaching 170 million TEUs in 2014, but the total capacity of the container fleet will be also boosted by 5.63%. Therefore, the market will be difficult to show a substantial upward trend in 2014 and the average China Containerized Freight Index (CCFI) will fluctuate between 1100 -1150 points, the report said.
