13 Mar 2014
5 Nov 2012
Recent reports have painted a gloomy picture for shipping markets in the near future.
"To believe it will be over in one or two years is a bit naive," DNV president and CEO Henrik Madsen was reported saying to describe the current crisis.
DNV has predicted an overcapacity of up to 10,000 vessels in the shipping sector. If the global economy remained stagnant, by 2013 there could be over 3,000 ships scrapped, nearly 1,500 newbuilds cancelled, and 6,000 ships in lay-up or on reduced schedules.
Others have echoed these concerns with one prediction that a quarter of global containerships will be lay-up by 2011 when over-capacity is expected to peak. In February, China's exports - the bulk of which are by ship - plunged by over 25%.
The current poll therefore asks respondents to vote on their preferred strategy amidst these toughening economic times.