As we approach the middle of 2014, shipping’s economics remain stuck in the doldrums will little or no recovery in sight.
The surplus capacity of ships to cargoes requiring transportation has been aggravated by the delivery of a massive orderbook of new ships that followed the boom markets of the middle of the last decade.

This surplus is not limited to a few markets but, with the possible exception of gas, both liquefied natural gas and liquefied petroleum gas, it has affected the rest and in particular the wet and dry bulk, and the container markets.