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-   -   Shipping rates hit zero as trade sinks (https://www.dfwstangs.net/forums/45-americas-war-terror-political-forum/380644-shipping-rates-hit-zero-trade-sinks.html)

TexasDevilDog 01-13-2009 07:01 PM

Shipping rates hit zero as trade sinks

"They have already hit zero," said Charles de Trenck, a broker at Transport Trackers in Hong Kong. "We have seen trade activity fall off a cliff. Asia-Europe is an unmit*igated disaster."
Korea's exports fell 30pc in January compared to a year earlier. Exports have slumped 42pc in Taiwan and 27pc in Japan, according to the most recent monthly data. Even China has now started to see an outright contraction in shipments, led by steel, electronics and textiles.
Idle ships are now stretched in rows outside Singapore's harbour, creating an eerie silhouette like a vast naval fleet at anchor. Shipping experts note the number of vessels moving around seem unusually high in the water, indicating low cargoes.

The economy is not going to rebound soon.

Fox466 01-13-2009 09:14 PM

No bueno. But then again it's not all bad as it evens out the field across the board...

Ylw 98~~SNAKE~~ 01-14-2009 07:15 AM

thats not a surprise

Sean88gt 01-14-2009 07:22 AM

The good news is that the US shipping doesn't look near as bad as the rest of the world.

I'm convinced that our stumble will cause other countries to fall. Hopefully, jobs will be coming back to the US as Americans desire to have cheap imported garbage decreases.

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