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Shipping sector suffers from overcapacity
July 11, 2013July 11, 2013by In Ports & Shipping

Shipping sector suffers from overcapacity

Shipping companies worldwide are suffering from overcapacity or excess fleets and this depressed freight rates in the sector, reports indicate. At the end of 2012, worldwide fleet of bulk carriers rose to 679 from 393 in 2007. Further, this is expected to see growth of 10 per cent and 5 per cent in the next two years, respectively, before it tapers to 2 per cent in 2015, reports indicate