Description

Over 80 percentage of world trade by volume is transported by sea. Shipping forms the backbone of world trade. For past three decades the year on year increase in shipping trade has been close to 3 percent. Major part of such trade has either its origin or destination in China. To keep pace with the increase in demand for shipping pre 2007-2008, shipping companies have placed huge orders. This was majorly because of anticipation of  continued growth in shipping demand and huge lag between ordering and delivery of ships.