Take a look at these headlines.

– From The Journal of Commerce (Aug. 23, 2011) – “U.S. Container Imports Fell 5.4 Percent in July” … “Soft demands for home goods helped push U.S. containerized imports down 5.4 percent last month from July 2010 after a 1.7 percent year-over-year decline the previous month.”

– From The Journal of Commerce (Aug. 23, 2011) – “Alphaliner Says Ocean Carriers Face Prolonged Slump” … “Container shipping is heading toward a prolonged slump that could last longer than the 2009 downturn, research analyst Alphaliner warns. Unlike the 2009 recession, which was triggered by the first fall in demand for container shipping, the current slump results from an oversupply of capacity and weak demand growth in Europe and the U.S., according to Alphaliner.”

– From The Journal of Commerce (Aug. 26, 2011) – “Consumer Confidence Sinks to 33-Month Low” … “U.S. consumer sentiment hit its lowest level since November 2008, a decline aggravated by political battles in Washington, according to a survey.”

– From Bloomberg (Aug. 29, 2011) – “South Korean Manufacturer Confidence Declines to 21-Month Low” … “South Korean manufacturer’s confidence fell to a 21-month low as concerns over Europe’s debt crisis and a faltering U.S. recovery roiled financial markets and damped the outlook for exports.”

– From Cargo Business Newswire (Aug. 29, 2011) – “CMA CGM, the third largest container shipping firm in the world, posted a 72 percent drop in net profit for the first half of 2011 at $ 237 million, compared to $ 887 million for the same period a year ago.”

– From Lloyd’s List (Aug. 29, 2011) – “Zim remains in the red” … “Israeli line posts $ 68m second quarter loss as freight rates keep lines in the doldrums.”

– Also from Lloyd’s List (Aug. 29, 2011) – “Evergreen profit down 98 percent in second quarter” …”$ 10m operating loss offset by investment gains leaving net profit for the quarter at $ 2.8m.”

– Again from Lloyd’s List (Aug. 29, 2011) – “CMA CGM profits slip 72 percent.” … “Fuel costs hit profits amid ‘difficult’ operating environment.”

– And more from Lloyd’s List (Aug. 29, 2011) – “Follow the leader?” … “Shipowners are prone to calling for their rivals to take actions or refrain from taking actions on the grounds that it will benefit the market, from which they are exempt. The market malaise is everyone else’s fault but not their’s.”

– From Cargo Business Newswire (Aug. 30, 2011) – “COSCO bulk charter dispute could impact industry’s credit rating” … “China’s biggest shipping group, COSCO, is engaged in a dispute over withheld charter payments for capesize bulk vessels that were long-term-chartered for as much as $ 80,000 per day in 2008, prompting industry-wide speculation that credit rating agency Moody’s could downgrade the entire dry bulk shipping sector as a result. At least three bulkers chartered to COSCO have been seized at ports around the world for non-payment, in a marketplace where day rates have plummeted since 1998 to $ 16,716 for the largest capesize type of vessel, according to a report in the Financial Times.”

So what do all those reports tell us? Look again. The industry’s future is very much in doubt:

… U.S. imports were down 1.7 percent in June followed by a 5.4 percent decline in July …

… The current slump results from an overcapacity and weak demand in Europe and the U.S. …

… U.S. consumer sentiment hit its lowest level since November 2008 …

… South Korean manufacturer’s confidence fell to a 21-month low …

… CMA CGM, the third largest container shipping firm in the world, posted a 72 percent drop …

… Israeli line posts $ 68m second quarter loss …

… Evergreen profit down 98 percent in second quarter …

But listen to how the industry’s bigwigs are responding to this worldwide economic disaster:

From Bloomberg (Aug. 28, 2011) – “Daewoo Says Mega Container Ship Demand to Withstand Slowdown” … “Daewoo Shipbuilding & Marine Engineering Co., working on the world’s largest container ships, said mega-sized vessels’ greater fuel efficiency will let them withstand a slowdown in overall orders.

“‘Large ships will help shipowners reduce costs, creating a new segment that may be less influenced by how the world’s economy performs,’ Chief Executive Officer Nam Sang Tae said today at a briefing in Seoul …

“Daewoo won orders to build 20 vessels able to carry 18,000 containers apiece from A.P. Moeller-Maersk A/S earlier this year. The ships will help the line consume less fuel per box than a vessel carrying 13,100 containers …

“Shipowners ordered 88 vessels able to carry 8,000 20-foot containers or more in the first seven months, compared with 54 for the whole of last year …”

[Are these guys for real?]