Liner shipping is traditionally a cyclical business, subject to dramatic peaks and troughs and sudden changes in fortune in individual trade lanes. Today's ebullience among all sectors of container shipping, including its various intermediaries,
naval operations and the top U.S. Navy officer, last month was reported as recommending that the service stick to its plan to build a multi-billion-dollar class of new destroyers despite a crunch on funds for new warships. "I'd love to have DD-21," Adm.
Entering the 1980s, it is hard to believe that it is now more than six years since the last "boom" in the big bulk carrier market was ended by the "Oil Crisis," and an abrupt change in the trading pattern of the combined fleet. For much of this period,