Chronic vessel oversupply predicted for upcoming year

It is expected in 2001 that global liners will order new ships and the mega-sized vessel era will open, reported the KMI. According to the KMI report "2001 KMI global maritime prediction", as trunk trade cargoes have recovered since 1998, and charterage soared steadily up, major liners seem to be beginning a build up of new vessels focusing on super-sized vessels, resulting in vastly greater vessel capacities and hence a vessel oversupply.

With recent technological innovations in the ship building industry, the year 2000 saw the building of 7,000 teu vessels, and the serious consideration of 8,000 teu vessels. A little further into the future, around 2005, 15,000 TEU vessels are expected to be practical.

Meanwhile, knowledge based industry expansion and information society advances might speed up increasing international maritime express cargoes, domestic delivery cargoes, and worldwide logistic efficiencies.

Participation in e-commerce for shipping and stevedoring businesses will mean establishing homepages and then proceeding on to developing information networks, setting up internet portal sites, and offering technical logistic services online.