Necessity breeds invention

摘要

Low rates, cheap fuel, a plethora of spare capacity, desperate competition among ports and carriers, and ease of entry are combining to prime the pump for new services at a time when global trade is lagging. The situation starts with carriers anxious to keep up in the rampaging upsizing of vessels to the ultra class by piling into the yards with orders. At last call, 66 ships with capacity above 18,000teu were on order, with several more carriers in the wings, presumably ready to milk the bragging rights of (momentarily) owning the largest container ship.