The vessels joined the SCI fleet at a time when the world container shipping is not exactly in the pink of health. Shipping consultancy firm Drewry is forecasting that 2009 is going to be the toughest year for the industry, with an estimated growth of 2.8 per cent, down from 7.2 per cent in 2008, as against the earlier projection of 8.6 per cent.

The projected growth for 2009 may not be surprising when the world trade, according to the World Bank, is expected to contract by 2.1 per cent this year for the first time since 1982. However, opinions vary on whether the current economic climate will improve, particularly for the shipping industry, and if so, when the shipping demand growth will begin to recover. The optimists are hopeful of a market rebound in the second half of 2009, with some even predicting a marginal bounce back as early as second quarter of 2009. The pessimists, however, still view recovery occurring at the earliest in 2010, and those with more pessimistic views predict the worst recession since 1930s.

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