Box throughput will drop 20% - Shipping Association of Malaysia

The Shipping Association of Malaysia has said that it expects box volumes in the country's ports to be down 20% this year due to the drop in demand and global overcapacity. SAM chairman Ooi Lean Hin said that this was in line with global trends and that the coming year would see a struggle for some companies go under. With many container newbuildings due for delivery this year only adding to problems of over-tonnage, Ooi said that while cancellations of most of these orders would be difficult, it might be possible to delay deliveries.