Hi, as a shipping professional involved in shipping for the past 19 years, i would like to say that yes the current situation seems to be pretty glum, but nothing new to shipping..
For the past 6-7 years there has been a severe demand of ships in all sectors and that had driven the charter prices quite high and subsequently the freight rates etc..
However, now with the ship owners taking delivery of all the ships they had ordered in anticipation of the boom then, the prices have started to come down..
This situation will not persist.. Even in time of economic strife, people need goods and shipping is one of the most common ways of getting the stuff to the people that need it..
Although the volumes might have dropped now, i think the market is just wary and awaiting to see how the economic situation will play out..
[...] (click here to main story) [...]
Hi, as a shipping professional involved in shipping for the past 19 years, i would like to say that yes the current situation seems to be pretty glum, but nothing new to shipping..
For the past 6-7 years there has been a severe demand of ships in all sectors and that had driven the charter prices quite high and subsequently the freight rates etc..
However, now with the ship owners taking delivery of all the ships they had ordered in anticipation of the boom then, the prices have started to come down..
This situation will not persist.. Even in time of economic strife, people need goods and shipping is one of the most common ways of getting the stuff to the people that need it..
Although the volumes might have dropped now, i think the market is just wary and awaiting to see how the economic situation will play out..
Regards
Hariesh Manaadiar
http://theworldofshipping.wordpress.com
http://shippinginsouthafrica.wordpress.com