Overcapacity and declining rates characterized container shipping in 2011. Until mid-2011, the charter rates have benefited from the market recovery. In the second half the rates have fallen back to the level of mid-2009. The large number of additions to the fleet in the upper size segment has accelerated the 'cascade effect', creating pressure on rates in all size segments and crowding out smaller units. At the same time, the slowdown of growth in many industrialised countries led to a deceleration of demand for capacity.
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