China’s shift towards a domestic consumer demand-oriented economy could provide a significant boost to the global shipping industry, as the world’s second largest economy targets more sustainable growth. “2013 will be another peak year of new vessel deliveries. Oversupply of capacity is still an obstacle for the shipping industry to overcome, but with the improvement of the world economy, the shipping sector is expected to experience moderate growth,” said Mr Xu Lirong, President of China Shipping (Group) Company. Mr Xu will examine this key issue affecting China, and the nation’s pivotal position in the international maritime arena, in a conference summit at Sea Asia, the region’s leading maritime event, in Singapore next April.