The maritime industry is experiencing one of its longest and fastest period of growth. The past 10 years has seen an annual growth rate of 3.8% in transport volume, and in the past 3 years this growth rate has almost doubled. This correlates strongly with the growth in the world economy and trade. The world order book contains about 4 times as many deadweight (DWT) as the average in the period 1991-2002, and is now at 331 million DWT (up from 79 in 1991-2002). At the same time there is almost no scrapping, which is a natural result of the rather extreme profits, which in some cases has been close to 10 times the operational costs and 3-5 times the operational costs for long periods.
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