Cosco chairman Wei Jiafu believes that the container shipping markets will fare better in 2012 backed by the growth of the US and China economies.
Wei told the TPM 2012 conference that the global container market would fare better this year because of of the consistent growth of US and China economies. However, he warned the market rise would accompanied by fluctuations.
With many container lines plunging steeply into the red in 2011 due low freight rates Wei called on both lines and shippers to restore reasonable freight rate levels meet the challenge of rising costs and poor service.