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From Beijing 2008 to London 2012 – Reflections on four extra-ordinairy years in the shipping industry and looking beyond

05 September 2012

All stakeholders in shipping realize that the business is cyclical, and the most important challenge is to predict the ups and downs and plan accordingly.  But few had in their wildest fantasies predicted the financial crisis that hit the world four years ago, and the significant drop in cargo volumes and the major impact this had on all shipping markets. 

Macro Economics - Recent die-hard optimism is being shadowed by dark clouds partly created by political problems. Key figures are falling short of expectations, but the direction is alright

13 June 2012

The recent optimism has fortunately not completely evaporated following the latest series of less positive economic indicators from across the globe, including India, the US, Brazil and Spain. The EU debt situation creates a lot of uncertainty, not only as regards economic development but also regarding the political situation on both sides of the Atlantic Basin.

Libya getting back into tanker business

25 August 2011

Hope for resumed activity in the oil tanker business is growing as the rebellion in Libya appears to be near a conclusion. Tanker shipping has been hurt by the lack of cargoes out of Libya for half a year now. Oil majors and oil service companies are right now getting back to Libya to assess the conditions of the facilities. It is hoped that the oil production can restart soon, opening up for renewed fixing of tankers to lift Libyan oil exports. Without Libyan oil exports, there is no hope for improvements in the tanker rates in the Mediterranean.

Macro Economics - Mixed global growth trends and modest job creation generates a very challenging setting

13 December 2011

By looking at the JPMorgan Global Manufacturing & Service PMI, it is clear that global growth is under pressure, as PMI output reaches the lowest level since mid-2009. The PMI data shows that global private sector output expanded at the weakest rate since the recovery began in August 2009. At 51.4, down from 52.0 in September, the output index indicated only a modest increase in economic activity.