China’s shipping sector suffers from overcapacity, high oil price

Posted on May 9, 2011 in AllEconomic News

About 30 percent of China’s coastal shipping companies are suffering a loss due to overcapacity and high fuel price, Xu Zuyuan, vice minister of transport said Saturday. According to Xu, some 40 percent of the country’s inland shipping firms are also suffering a loss. Data from the ministry shows China’s cargo handling capacity from major [...]