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The cyclical nature of the maritime sector of the U.S. is well recognized in academic literature and professional journals. Indeed, 2003 was a stellar year for the global maritime industry in general and for the shipping community in particular. Freight rates in all markets have been on a rising trend for almost two years now, despite the ongoing geopolitical uncertainties worldwide and the increasing concern with safety and security of global supply chains. The primary driver of the current extraordinary boom is Chinese economy and its ongoing spectacular growth.