Imports to shore up shipping

Weak demand, depressed rates continue to hamper industry

China's growing imports are expected to lift global trade volume, shoring up a shipping industry that has been struggling with difficult market conditions in recent years, a senior official from the world's largest container operator said on Tuesday.

But the industry's troubles are likely to persist due to overall weak demand, depressed freight rates and exacerbating price wars, said Tim Smith, North Asia region CEO of Maersk Line, the container arm of the Danish shipping conglomerate AP-Moeller Maersk Group.