Container volumes arriving at European ports plunged in June, dashing expectations of a summer rebound. Imports fell 7.5pc from North America and 9pc from Asia. Flows into the Mediterranean region crashed by 16pc, reflecting the violence of the recession in Greece, Italy, Spain, and Portugal.
Buckling trade is the coup de grace for countless shippers still clinging on by their finger tips. “The market is barely paying above operating cost. If you are loaded with debt, you are in trouble,” said Martin Smith from ship operators Norddeutsche Vermögen in Hamburg.
so the employment figures lag the actual shipping activity, aka real economical activity, and we are nowhere near the bottom yet!!!
The Baltic Dry Index NEVER EVER fails to forecast an economic trend … up or down, you make make a decent living in stocks by JUST watching this ONE leading indicator, THE BALTIC DRY INDEX, and rotating in or out based on its trend … it leads the market up or down by about 3 months.