Saturday, October 11, 2008

Shipping Slowdown ??

Roll on - Roll off cargo in Antwerp Photo by KC Aug 08

Curmudgeon, in comments (at this post) on the Global economy and shipping says:
"Shipping is falling not just because demand is down but also because the banks are too shaky or too fearful to facilitate payment."
and points us to this article: International Trade Seizing Up Due to Banking Crisis (Updated) at the site Naked Capitalism. From that article:
Access to credit is key to the survival of maritime trade and insiders now say the supply is being severely restricted. More than 90% of the world's trade by volume goes by ship...

Obviously this problem needs to be fixed, and quickly.


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