Globalization of markets and globalization of production means that producers from all over the world can sell goods to customers from all over the world. Part of what made this possible was the containerization that took place in the 1960's along with the development of supertankers to ship those containers. Now, the industry is in serious trouble. The 20 or so major carriers, all Asian or European, lost $20 billion in 2009. Analysts don't see a recovery until 2012 at the earliest.
More Ships Than There Are Containers to Fill Them - NYTimes.com
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