The world’s shipping lanes serve as the arteries of the world economy with over 80% of trade transported along them. Containers are the principal means by which manufactured goods are shipped from one country to another.
The collective loss of container lines worldwide in 2009 was estimated at $US19.5 billion.
2010 saw a surge into profitability with collective profit of $US17.
Estimated profitability for 2011 is $8bn. The drop reflects a breakdown in capacity discipline with carriers not withdrawing capacity towards the end of 2010.