Shipping industry sees 'depressed' freight markets to remain in 2011

Source: MB.com.ph -  Global oil tanker and dry bulk freight markets will likely be ''depressed'' next year because of an oversupply of vessels and slow economic growth in developed countries, senior maritime executives said.

The expansion of the world's fleet is expected to outpace global economic growth in 2011, a result of the industry's buying spree two years ago before the financial crisis severely slashed sea trade.
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