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Wall Street Breakfast: Greek Exit Fears Rise
So according to you, the US made sure Greece became a member of the Euro- out of malice perhaps? I seem to remember that they(the Euro members were desperate to get members to join the common currency Union. They knew the Greek economics were shaky, but hoped that Greece would turn out more like Spain. You really can't blame the US for this. Just like the current oil war- which seems to me to be more a cause by a disgruntled Saudi Arabia, rather than a US, determined to destroy its own shale oil production, but that doesn't stop Iran, Putin and Venezuela and SA from putting the blame on the US.
Jan 5, 2015. 11:15 PM
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A lack of demand for container shipping often serves as a bellwether for international trade, so bleak forecasts (
) from Maersk (
), Frontline (
) and Teekay Tankers (
do not bode well for a global economic recovery
this year. For the shippers, demand rising at about half the rate that new vessels are adding to capacity means a rough year ahead.
View news story
There are more tankers and ships than ever so any global economic rebound, unless significant, is not going to have much effect. For that reason I do not necessarily agree with shipping being the indicator as to global economic health. The ship owners cannot resist the bargain basement prices of new builds, so they keep adding more vessels instead of pairing it with the scrapping of older ones in order to maintain an equilibrium. I think we will see a few shippers go out of business this year as it becomes a bit of a race of the last man standing, who in the end will reap the rewards.
Feb 24, 2013. 09:16 AM
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