Tuesday, May 12, 2009

New York Times article re laid up ships

The New York Times has an article on the number of ships laid up waiting for cargo, especially in Singapore.

So many vessels have flocked to Singapore because it has few storms, excellent ship repair teams, cheap bunker fuel from its own refinery and, most important, proximity to Asian ports that might eventually have cargo to ship.

despite some positive signs, including a Wall Street rally and slower job losses in the United States, many in the shipping business say the current level of trade does not suggest a recovery soon.

click here for complete article

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