Earlier quoted context omitted.
I was under the impression that cargo capacity is currently expanding. Maersk is taking delivery of 11 new ships within the next year and a half: http://theloadstar.co.uk/maersk-refines-fleet-second-generat...
I'm under the impression that both are true. There is overcapacity in the shipping market, which drives down prices. Because prices are low, shippers are investing in ever larger (more efficient) vessels, in order to turn a profit. This in turn leads to more overcapacity, which leads to a drive for even larger and more efficient ships. It's a type of 'tragedy of commons' situation, where every shipping company is mak…
However ironically though, these mega vessels are considered with quite a bit of disdain by many in the industry. This link can provide quite the rabbit hole of information. http://www.supplychain247.com/article/state_of_ocean_contain...