Shipping industry is now in a position to soak up the slight excess in vessel capacity given the current trend in shipping business across the globe, said Baharuddin Arbak, Vice-President, Liner Business of MSIC Berhad, (Malaysia International Shipping Corporation), here.

The MSIC official said that world business trend was positive at present though a few months back the picture looked slightly bleaker. With 18 vessels of its own and another 15 on charter, MSIC took delivery of

two 8,500-TEU vessels early this year. Another couple of vessels of similar capacity are due for delivery early next year.

The MSIC official was interacting with reporters here on his first visit to Kochi and the developing International Container Transhipment Terminal (ICTT) site on Vallarpadam Island.

This is the right location for container transhipment business, he said comparing the current Rajiv Gandhi Container Terminal (RGCT) on Willingdon Island to the developing site on Vallarpadam Island.

He described his visit to Kochi as an exploratory one and noted that it was a beautiful location for shipping business. Currently MSIC vessels call at Nhava Sheva and Pipavav ports.