In remarks given ahead of a shipping event in April Douglas Hsu, chairman of Taiwan’s U-Ming Marine Transport Corp, has called for a radical overhaul of the shipping industry.

“Overcapacity, rising fuel costs, the onslaught of technology and environmental awareness are among the forces that are driving the shipping industry to reinvent itself," Hsu said, adding: "This tsunami of challenges demand an urgent need to transform the way the shipping business is done. Only by making radical changes can the industry survive and thrive in the new and increasingly volatile global economy.”

Hsu will be speaking at this April’s Sea Asia conference and exhibition in Singapore.

-- Source from Sino Ship News