First, this is market failure: the world shipping tonnage increased massively between 2010 and 2013.
Second, this what recession looks like.
Third, this may be because the world is beginning to buy less ‘stuff’.
Prices changing when supply and or demand change is not evidence of market failure.
The world is not in recession ,the global economy is still growing.
Finally, shipping volumes are up, more “stuff” is flowing around the world. Just not up as much as the supply of shipping to haul stuff in.
Even by the Murphatollah’s standards it’s pretty good to be wrong in every single one of your assertions, isn’t it?