Asian Surveying & Mapping
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January 26th, 2012
Freighter Oversupply Weighs on Shipowners and Banks

The skyscrapers and immaculate beaches of this seaport look out on one of the world’s largest parking lots: mile after mile of empty cargo ships, as far as the eye can see.  Similar fleets bob at anchor, with empty cargo holds, off the coasts of southeast Malaysia and Hong Kong. And dozens of newly built ships float empty near the giant shipyards of South Korea and China, their owners from all over the world reluctant to accept delivery during one of the worst markets ever for the global shipping industry. Read More