Journal of Commerce--Moody's Investors Service set a negative outlook for the shipping industry over the next 12 to 18 months on Tuesday, saying the business from container carriers to bulk operators is facing overcapacity.

The dry bulk sector will likely be hit hardest this year because the segment’s order book equals nearly half of the current capacity, with about 80 percent of the vessels to be delivered over the next two years, Marco Vetulli, a senior credit officer in Moody’s corporate finance group, said in a statement. Read more!