Container Market to Shrink More Than 10%

News -
23 Jun 2009 - 18 Jan 2016
A.P. Moeller-Maersk A/S, owner of the world's largest container shipper, said cargo volumes may drop more than 10 percent this year and show no growth in 2010 as the industry suffers a "completely unprecedented" decline. The container industry, which transports manufactured goods by sea, is in its first year of contraction as consumers in Western economies rein in spending. The market has expanded by more than 10 percent most years since containerization went global in the 1970s.