Evergreen Marine Corp expects improved profits in 2008 for the container shipping industry with the overcapacity situation under control, the Taiwan's Commercial Times reported.
Due to a spike in oil prices, major shipping companies have lowered the speed of their ships to save on fuel, said Evergreen chairman Wang Lung-hsiung and morevessels need to be assigned on Asia-to-Europe routes.
Mr Wang was also quoted with saying that the Taiwanese shipping line is chartering eight to nine 13,000-TEU ships for delivery from 2012, reported afxasia.com.
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