Shipping & Freight collapse - Cargo boats and oil tankers sitting idle and BDI

Baltic Dry Index (BDI) and the shipping, cargo and freight ALERT... Full report - "Shipping in dire straights, crashing: The Leading Indicator on the Economy..."
http://newsusa.myfeedportal.com/viewarticle.php?articleid=430

Video to follow... We have seen the BDI Index literally crash at the end of last year and now, it is heading even further down. This shipping index is how shippers around the world get paid. The lower it goes, the less they get paid. Ships in Asia and Europe are sitting idle in PLAIN VIEW. In Asia some are entire ghost fleets of cargo and oil tankers.

Outside of Rotterdam port, Europe's largest, we see 20-50 ships on any given day, waiting, to get in to port to pick up something. Many of the inland boats (and sea-fairing ships as well) are often taking "half loads" for much less money.

They cannot hang on too much longer say most of them... Let's look at some of the footage...

Also, a screen shot from this scene, as described in The DailyMail in the UK:

Revealed: The ghost fleet of the recession anchored just east of Singapore

By Simon Parry

Last updated at 8:45 AM on 28th September 2009

The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year

Read more: http://www.dailymail.co.uk/home/moslive/article-1212013/Revealed-The-ghost-fl...

Category:

News & Politics

Tags:

• shipping
• BDI
• Baltic
• Dry
• Index
• oil
• tankers
• oil_tankers
• Baltic_Dry_Index
• Rotterdam
• Singapore
• boats
• ships
• empty
• economy
• crash
• no_business
• low_rates
• unemployment
• ocean
• liners
• economic_collapse

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