Waiting for ‘rock bottom’

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Statistics indicate that the US economy will hit rock bottom in the near future but do not expect a major recovery in the container shipping sector as the US consumer will be rather cautious to spending money as it has done in the past, according to Toshio Shimizu, Vice President of Kawasaki Kisan Kaisha (‘K’ Line).

Recovery in the shipping industry and in cosumer demand depends on the bottoming out and recovery in the US economy, delegates at the Sea Asia conference in Singapore heard.

Recovery of the European economy will take more time that the US economy due to the nature of its structure, he stressed.