Shippers Are Blowing Off European Problems And Rushing Vessels Back Into Action

The Business Insider ^ | 5-25-2010 | Vincent Fernando, CFA

[blam]

Shippers Are Blowing Off European Problems And Rushing Vessels Back Into Action

Vincent Fernando, CFA
May 25, 2010, 1:20 PM

Despite the concerns about Europe, global trade continues to show signs of a continued rebound. For example, average freight rates and volume reported by the container shipping company NOL (a leading player) have both continued to rise thanks to strength between North America and Asia.

Moreover, ship owners are bringing vessels back into action based on demand growth expectations.

Fearnly Fonds:

The idle container fleet fell to 4.1% or 549,000 TEUs (263 ships) from 5.3% or 306 ships two weeks ago...The rapid depletion of idle tonnage over the past six months has been due to two primary drivers, the large scale adoption of Extra Slow Steaming (ESS) on long haul routes and increased demand for vessels.

(Via Fearnly Fonds, Shipping Morning Report)

[snip]

[blam]

Well...okay, maybe we all aren't going to die but the DJIA is still down 209 points as I post. See here.

[AmusedBystander]

Well...okay, maybe we all aren't going to die but the DJIA is still down 209 points as I post.

Maybe, they'll be importing a lot of Chinese made caskets and we are all gonna die (Well at least us conversatives in the Obama gulags).

[The Comedian]

If America is shipping anything to Asia, it is boatloads of deeds to our future.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.