Sometimes we can look to this worldwide crisis from a different angle. We have a picture from vesseltracker.com. It shows the container ships off the coast of Singapore. Green means: yes there is activity, red says: we’re just hanging around. It’s another way to show us how limited shipping activity is on the largest parking lot on earth.
From International Economy:
The world's busiest port for container traffic, Singapore saw its year-over-year volume drop by 19.6 percent in January 2009, followed by a 19.8 percent drop in February. As of mid-March 2009, 11.3 percent of the world's shipping capacity, sat idles, a record.
From International Economy:
The world's busiest port for container traffic, Singapore saw its year-over-year volume drop by 19.6 percent in January 2009, followed by a 19.8 percent drop in February. As of mid-March 2009, 11.3 percent of the world's shipping capacity, sat idles, a record.
If this anecdote proves to be symptomatic, where will the rally in the container stocks leading us?
We look to DRYS.
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