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It will be a challenging year for container shipping companies as they will have more space available for carrying goods than the amount of cargo that’s out there. Corrine Png, chief executive officer of research firm Crucial Perspective, estimates freight-carrying capacity on container ships will rise 5.9% in 2018, outstripping demand growth for the first time since 2015. That’s largely because more than 40 huge container vessels ordered at least two years ago are ready to be delivered for service.
With some of the space expected to be left empty, container lines could be forced to charge lower fees for shipping goods. More than 90% of global trade is transported by sea. The following five charts show what’s in store for shipping companies: