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Freight rates likely to fall after 1,000 new ships enter global fleet.

Bangkok Post (Bangkok, Thailand)

| April 06, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Aranee Jaiimsin

Apr. 6--Shipping freight rates are expected to decrease by the end of the year following a two-year rally as new supply of more than a thousand vessels will come into service, according to the Thai National Shippers' Council (TNSC).

Surapon Vongvadhanaroj, the council's chairman, said 600 new vessels, with a capacity of 8,000 containers each, would be commissioned worldwide to accommodate demand for marine transport this year. Another 900 vessels would be added to the global fleet in 2006.

According to Mr Surapon, many shipping companies had ordered the construction of new vessels to meet rising demand over the last two ...

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