China Shipbuilders, Rivaling U.S. in WWII, to Cut Freight Costs
April 30 (Bloomberg) -- The cost of shipping coal and iron- ore is about to decline as the supply of cargo vessels overwhelms demand.
Japan, China and South Korea will produce so many vessels that shipping costs, now at an all-time high, will fall 40 percent by 2010, according to futures contracts traded privately between banks, transportation companies and hedge funds.