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By Alex Lennane
It’s conference season, and here is the latest from the World Shipping (China) Summit in Nangbo: there’s no doubt, there will be too many boxships for lines to be able to make a profit, according to McKinsey. The continued appetite for ordering more ships – triggered because new ones are more fuel efficient and pretty cheap – is likely to lead to bankruptcies and exits from the market as lines struggle to break even. And ships that are just 10 years old will become obsolete.
