Spectre of overcapacity

Hans Böhme

Marine Policy, 1982, vol. 6, issue 4, 330-331

Abstract: The freight markets went into the doldrums again in 1981 after having withstood the impact of industrial recession astonishingly well into the early months of the year thanks to expanding coal traffic and long port delays for bulkers. Oil imports of the main consuming areas as well as the raw material intake of the steel industries shrank considerably, while movements of other goods were still expanding. On the other hand, the world merchant fleet started to grow again at an accelerated pace. Transport capacities were, as a consequence, less employed; laid-up shipping increased rapidly, and freight-rate levels declined sharply in most market sectors. These developments are analysed in detail in the annual review of maritime transport by Dr Hans Böhme, of the Kiel Institute of World Economy, and published, as 'Weltseeverkehr: Vor einem neuen Tonnageüberschuß?' in the Institute's bi-annual, Die Weltwirtschaft. The author summarizes the review below.

Date: 1982
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