The article explores how the shipping industry adjusts to the economic crisis. Five ways by which the industry adjust its supply to a decline demand are to stop the ordering of new cargo ships, demolition of vessels or ship-recycling, termination or rescheduling of existing orders at shipyards, slow steaming of vessels or reducing the voyage speed of ships, and temporary withdrawal of existing new container ships from service. Several measures in economic stimulus packages stimulate economic demand and employment and target innovative investments in public infrastructure or aim to fill the investment gap. In support for private investments, the government also encourages private-public partnerships to develop transport infrastructure.
Hoffmann, Jan,
"Shipping Out of the Economic Crisis"
(2010).
The Brown Journal of World Affairs.
Brown Digital Repository. Brown University Library.
https://doi.org/10.26300/gxn4-8p03
The Brown Journal of World Affairs is a semiannual journal of international relations and foreign policy produced at Brown University’s Watson Institute for International and Public Affairs. The Journal features original articles by and interviews with world leaders, policymakers, and …
