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Now isn't the nicest time to be going after shipping companies, with the way their profits have collapsed over the last year. The recession has been pretty har
by akamaka 17y ago
Now isn't the nicest time to be going after shipping companies, with the way their profits have collapsed over the last year. The recession has been pretty hard for airlines, but the drop in shipping prices is shocking by comparison: more than a 10x drop.
http://investmenttools.com/futures/bdi_baltic_dry_index.htm http://investmenttools.com/futures/bdi_baltic_dry_index.htm
- m_eiman 17y agoIn other words, now is the perfect time for them to put their ships in the docks and perform maintenance and upgrades without losing money from missed shipments. Ships already beat (most?) other forms of transport on oil-per-tonnage-mile, why not fix the last few wrinkles that make them look bad?
- cwan 17y agoThis is already happening with smaller and more inefficient ships being scrapped. From one article: http://www.zawya.com/Story.cfm/sidZAWYA20091014053222 http://www.zawya.com/Story.cfm/sidZAWYA20091014053222
- aw3c2 17y agoSeeing those graphs I just see things going to previous years stats. Am I not reading properly or are they just sad that infinite growth has once again shown not to exist?