The shipping industry a looks like it's in rough seas. Freight rates from China to Europe have...

|By:, SA News Editor

The shipping industry a looks like it's in rough seas. Freight rates from China to Europe have sunk 39% since August due to weak demand and vessel oversupply, a trend that is on course to get worse as the order book for new ships represents 30% of the global fleet. Meanwhile, EU bank woes threaten the supply of trade finance.