All but seven of the biggest 30 shippers lost money in 2012, according to shipping analysts Alphaliner. Industry players and analysts say cumulative losses over the past four years run to about $7 billion.
Excess tonnage has haunted the container-shipping industry since 2007, when a record 3.1 million additional containers were added ahead of the plunge in global trade triggered by the 2008 financial crisis.
The crisis prompted a temporary lull in new shipbuilding as new vessels ordered in the boom times entered service.
Read more: Overcapacity, Fuel Costs Hit Shipping Industry | Fox Business
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