Slow Steaming Ahead
The container-shipping industry is in for a slow season that could last longer than the 2009 slump, according to shipping-research firm Alphaliner. Shipping lines have upped the number of container vessels on the sea, but demand for goods in Europe and the United States is declining. After losing $19 billion in 2009, the shipping industry bounced back in 2010 with record earnings of $17 billion. That triggered a rush of orders for ships and a reduction of vessels that had been anchored during the recession.
