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Shipping industry sees signs of hope

4 April 2014 Last updated at 01:10 BST

Headwinds facing the shipping industry have seen widespread rationalisation and many operators go under.

However, there seem to be glimmers of hope.

Dubai's DP World, the world's fourth-largest port operator, saw stronger net profit last year, up 10.9% at $604m, from $545m in 2012.

So has it weathered the storm? The BBC's Sharanjit Leyl spoke to Peter Sand, chief shipping analyst at Bimco, the world's largest shipping association.

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