GCTL8.com (FocusAsia Media Ltd)

LONDON, Jan 5 (FAM) – International maritime shipping association, BIMCO, predicts net fleet growth in container ships in 2017 to be superior to that seen last year but on the basis of macro-economic forecasts expects little change in market conditions.

“Generally, the container shipping industry has found it difficult to adapt to the new normal where demand grows by a multiple of global GDP growth of one or even below, unlike the multiplier of two or more experienced year on year in the past. Nevertheless, market conditions ended up improving in 2016 as fleet growth was lower than demand growth, the first time since 2010,” the trade body said in its latest market report.