The Hanjin Madrid in Hamburg
Hanjin Shipping Co., South Korea’s largest shipping line, and China Shipping (Group) Co. said they were close to ordering new vessels as world trade rebounds from the global recession.
“The worst is over for Asian shipping lines, so it’s a good time to order vessels,” said Minoru Matsuno, president of Value Search Asset Management Co., a Tokyo-based investment advisory firm. “At the same time, the industry needs to ensure it doesn’t repeat the overcapacity mistakes that helped hammer rates last year.”