A very bleak outlook for busiest season.... (5)
Grandepensees: And the world's economy just keeps on sliding...
Check this article, it's actually pretty weird but there's a certain 'ah-ha' to it that dispels rumors of an economy on the mend.
What say you?
Check this article, it's actually pretty weird but there's a certain 'ah-ha' to it that dispels rumors of an economy on the mend.
What say you?
I say it's pretty scary.
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ladyfingers: I say it's pretty scary.
I'd say, yes.
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Very interesting article, I'll have to read it through later. Here is something related to the crux of that story. Naturally there is far more shipping capacity than cargo at the moment but if you look at the chart it shows things are much better than they were back in April. I guess excess ships must be put somewhere safe where adverse weather isn't a concern.
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8/11/09 More than 62% of ships on order today are bigger than 4,000 TEU, and only 11% are under that size at a time when smaller ships will be the first to benefit from recovery, according to Paris-based Alphaliner.
5/19/09 China Shipping Container Lines rose 5.6% as Goldman Sachs said it was turning more positive on the transportation industry.
China’s imports of iron ore, used in steelmaking, jumped 33% in April, setting a record for a third month, the customs office said.
5/18/09 Baltic Dry Index Up 11 Days in a Row: Should You Care? The Baltic Dry Index is currently riding an eleven-day winning streak during which the index has gained 43%. Year to date, the index is now up 228%. Given that it is a measure of shipping rates, the increase in the Baltic Dry Index is regarded by many as an important indicator of an improving global economy. How this translates to the stock market, however, is unclear.
4/16/09 The number of idle containerships worldwide has fallen from 1.42 million to 1.31 million TEU the first drop since September.
5/19/09 China Shipping Container Lines rose 5.6% as Goldman Sachs said it was turning more positive on the transportation industry.
China’s imports of iron ore, used in steelmaking, jumped 33% in April, setting a record for a third month, the customs office said.
5/18/09 Baltic Dry Index Up 11 Days in a Row: Should You Care? The Baltic Dry Index is currently riding an eleven-day winning streak during which the index has gained 43%. Year to date, the index is now up 228%. Given that it is a measure of shipping rates, the increase in the Baltic Dry Index is regarded by many as an important indicator of an improving global economy. How this translates to the stock market, however, is unclear.
4/16/09 The number of idle containerships worldwide has fallen from 1.42 million to 1.31 million TEU the first drop since September.
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Created: Sep 2009
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Check this article, it's actually pretty weird but there's a certain 'ah-ha' to it that dispels rumors of an economy on the mend.
What say you?