Posted on 05/21/2009 8:02:06 AM PDT by TigerLikesRooster
Drewry Calls Dry Bulk Recovery Temporary
Peter T. Leach | May 21, 2009 2:47PM GMT
The Journal of Commerce Online - News Story
Container Lines | Maritime | Container Shipping | Asia Consultant warns against false dawn in shipping sector Drewry Shipping Consultants is warning against a false dawn in the dry bulk shipping sector.
The sector will have to dig itself in for a long recession, it said in its quarterly Dry Bulk Forecaster, which was published this week.
The London consulting firm said that although the steep decline in market indicators seems to have reached the bottom, the few signs of recovery in the dry bulk sector are mostly temporary, while the large number of orders for new ships will weigh the sector down for several years to come.
(Excerpt) Read more at joc.com ...
Ping!
Like the Baltic Dry Index, I believe the world’s economies are going to have an “L”-shaped recession, if not Depression, for many years to come - the mountain of debt out there is a Black Hole that the politicians will try to fill with teaspoons.
Where is this gaping void in the raw material stock pile at the delivery end of the voyage? Those manufacturers seem to be idle and their bankers are hard to find.
There must be a batch of ships sitting on anchor someplace.
There are.
Does that mean the bids showing up on the Index are really based on a smaller pool because capacity is sitting out the financial storm?
That’s like playing games with the unemployment rate....quit looking, don’t count.
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