Overcapacity, falling freight rates, high scrapping volumes and retrenching order activity characterized the shipping markets in the first half of 2012. Commercial shipbuilding is in crisis. Not the demand side, but the oversupply of vessels is nowadays a big challenge for the shipbuilding industry. 2,775 newbuildings with a combined tonnage of 164 million dwt entered the merchant fleet in 2011-the highest volume of all times.
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