As the world economy sinks into a deflationary depression one of the chief indicators is the state of world shipping. The Baltic sea index has sunk and demand is falling through the floor.
--Robin Westenra
"The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry commodities, fell on Thursday for a second day as weak Chinese demand weighed on rates for dry bulk vessels".
"When the Baltic Dry Index--which measures shipping demand versus supply--reached a 25-year low Feb. 3, some industry participants called for a bottom. However, we think headwinds will weigh heavily for some time, and we would delay investment in this market until the order book trims down and the rate of new orders weakens. We think this is likely to occur in late 2012, at the earliest, or early 2013."
Container shipping firm sinks deeper into the red
"Container shipping firm Neptune Orient Lines (NOL) has posted yet another quarter of losses, as its new cost-cutting regime fails to stem the bleeding caused by high fuel costs and low freight rates."
"Container shipping firm Neptune Orient Lines (NOL) has posted yet another quarter of losses, as its new cost-cutting regime fails to stem the bleeding caused by high fuel costs and low freight rates."
