Shipping industry may take longer to recover

DALIAN: Though green shoots of recovery have started appearing in the global economy, the shipping industry is unlikely to emerge from the slump for the next two or three years, according to business executives and analysts.

"The global shipping industry will come out of the winter much later than most others," said Qian Yongchang, head of the Chinese Transportation Association and former minister of communications.

Qian made the remarks at the 2009 Global Shipping Summit held in Dalian last Friday.