See that markets are at low levels but remain firmer.
Ship Scrapping at record levels and new orders are virtually non existent.
I remember at the height of the market we saw a plethora (yes i know a few big words) of new shipbuilding yards arise from no where, and my feeling is we will see many disappear at the same speed.
Also interesting to see that capital markets are still tight and much more private money seems to be circulating for shipping investments. The current state of play in Europe is not helping this climate and should the Greeks do a runner....then who knows what will happen. Most of the contingencies have already been factored into markets but until IT actually happens no one knows for sure where this mess will leed.
Maybe 'short term pain" for "long term gain" is something we all need to get used too..
Also see a new report saying the strongest growing economies over the next few years promise to be Mexico, Chile and Australia. So in every bad market...there are always a few that buck the trend.
- The Virtual Shipbroker
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