World container traffic will grow 8 per cent in 2008, but capacity is expected to grow 12 per cent, according to UK-based Clarkson Research Services.
Clarkson analysts said the container shipping market will face a supply-demand imbalance, but will maintain a slow and steady growth.
Compared to 2006, the container shipping market was in a slow and weak period of recovery in 2007, said a report on Clarkson's findings from Xinhua News Agency.
A report from the Shanghai Shipping Exchange said the Chinese market is to slow down to a steady rate in the next two years from its recent period of rapid growth. The report suggests terminal operators and carriers adjust accordingly to avoid overcapacity.
Opinion from the industry said the slow recovery in the later half of 2007 is closely related to the change of the shipping giant Maersk's strategy.
To retain market share and cement its industry leadership, after the difficult acquisition of P&O Nedlloyd, Maersk adopted a price-cutting policy which led the industry into a slump, analysts said. The market later began to recover when the new captain of Maersk steered a course towards profitability.
Analysts also said cargo volume on Asia-North America lines have been affected by the slowdown of US economy, but growth on Asia-Europe lines remains strong. New emerging markets such as Vietnam, Latin America and South Africa are also subject rapid development trends.
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