OREANDA-NEWS. December 13, 2012. China’s growing domestic consumers will be a boost for the global shipping industry, according to the president of China Shipping.

“2013 will be another peak year of new vessel deliveries. Oversupply of capacity is still an obstacle for the shipping industry to overcome, but with the improvement of the world economy, the shipping sector is expected to experience moderate growth,” said Xu Lirong.

Xu will examine this key issue affecting China, and the nation’s pivotal position in the international maritime arena, in a conference summit at Sea Asia, the Singapore event held next year. Xu will be joined on stage by Andy Tung, ceo of Hong Kong’s Orient Overseas Container Line, and Chen Bin, Deputy General Manager, Transport Finance Department, China EximBank.