ILO
December 1st, 2001
BY KEITH NUTHALLA new report by the International Labour Organisation (ILO) on conditions in the world shipping and shipbuilding industries makes grim reading. Clearly things were bad well before the attack on the World Trade Centre and the fundamentals have worsened since.The central problem is that an unusually large delivery of newly-constructed ships are coming on to the shipping market just at time when the global economy is slowing. The ILO reports that new building and order books for containerships, some dry cargo ships and tankers stand at an all time ...
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