Container shipping lines hope for a better year as freight rates are increasing. They are expecting overcapacity to ease during the year.
Surplus supply, which has been a major problem for shipping lines since 2008, should narrow to 1.5 per cent from 2.5 per cent last year, a forecast by 11 institutes and research houses said.
Shipping lines were quite successful in raising their rates as planned in December. At the beginning of this month rates are still stable, as the Chinese New Year is earlier this year,which helped drive rush orders from overseas importers.