The global shipping industry is in the midst of an upswing in orders for new vessels, with HMM expected to place an order for 156,000 TEUs of capacity by mid June and China’s shipyards having received 10.4 million dryweight tons in the month of March. The latter was the largest for a single month since Q1’14. While that may raise concerns about excessive supply this time may be different. The extant Chinese orderbook is only half its level of May 2014 while global outstanding orders for container ships were only equivalent to 13.8% of existing capacity for delivery over th...