In just two months, a series of new orders for major container ships, Ultra Large Container Carriers (ULCCs) has expanded the total global orderbook for container ships by an additional 600,000 teu in the 3rd quarter 2013 alone, thus reaching the highest level in 14 months.
The new orders for mega ships in recent months, triggered by Maersk Line's Triple-E series of more than 18,000 per ship, ordered back in 2011, will lead to chronic overcapacity in the industry and will impede the prospects of sector recovery, a development that will have massive consequences for secondary trades, according to analysts Alphaliner.
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