Excess capacity, a slowdown in restocking and shippers resisting rates increases will make 2010 a tough year for the          container shipping industry, said Orient Overseas (International) Limited's Ken Cambie in Hong Kong today.

       "The degree of uncertainty for the second half we don't think should be underestimated," was the grave warning from OOIL's chief financial officer.

       Cambie's caution was issued at the Hong Kong-listed carrier's 2009 results announcement, which made for a sobering backdrop to the 2010 outlook.

       OOIL saw its profits for 2009 falling by 245 percent, posting a full year loss of US$401 million. In 2008 the group made a $276 million profit.