Global demand for shipping services went up in 2011 but capacity also grew, resulting in shipping volumes growing 4% last year to a record 8.7 billion, according to the UN's Conference on Trade and Development's (UNCTAD) Review of Maritime Transport 2011.

"World ship supply capacity expanded much faster, at a rate of 10% cent, reaching for the first time a total of 1.5 billion deadweight tons," the United Nations think tank stated. Read more…