NYK Line President K. Miyahara expects a rate restoration and lower bunker prices to rejuvenate the liner industry.

"The market is getting better and container shipping is coming back," said Mr Miyahara at the opening of the NYK Shipmanagement Training Centre in Singapore.

Mr Miyahara estimated the average freight rates to increase by 10% next year, and expected cheaper bunker prices to help the industry.

The Japanese carrier said it would expand its fleet from the current 710 vessels (including containerships, bulk carriers and tankers) to 930 ships in 2010.