The shipping market is characterized to a great degree by market cycles. This
volatility creates a potential for high profits, but also for considerable losses.
With the current reduced level of world economic growth coinciding with overcapacity
in the global fleet, the shipping market is experiencing tough conditions.
The next few years will be critical for shipping and for the balance between supply
and demand. Three economic areas currently define the maritime trade:
North America, Europe and Asia. The shift in the relative importance of these
areas will affect the maritime industry substantially in the years to come.