Cosco’s chairman sees shipping slump persisting for next two years

05/11/2014

Depressing news for shipping lines ? Cosco reckons the current overcapacity will take the market another two years to recover from. Big shipbuilding orders will make it hard to boost rates, said chairman Ma Zehua, which means another two years of lines competing on costs. Cosco’s own plan includes further cost control, longer-term customers and emerging markets.