Global container capacity grew 5.7 per cent last year while demand only increased 4.2 per cent, putting pressure on freight rates. Photo: SCMP

OOIL's net profit tumbles 84pc on shipping overcapacity

Shipping line's hopes for rebound, after 84pc plunge in profit for last year, are buoyed by expectations of narrowing demand-supply gap

Global container capacity grew 5.7 per cent last year while demand only increased 4.2 per cent, putting pressure on freight rates. Photo: SCMP
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