http://www.bloomberg.com/quote/BDIY:IND
Just a reminder.Shipping companies start losing money below 1200.Which explains some of the oldest and largest shipping companies filing bankruptcy or closing all together in the last month and a half.
http://www.bloomberg.com/news/2012-08-09/world-s-oldest-shipping-company-closes-amid-industry-decline-1-.html
The world’s oldest shipping company sold its last vessel and is going out of business, according to the liquidator.
Stephenson Clarke Shipping Ltd., started in 1730, has been placed into liquidation, according to a statement from accounting firm Tait Walker. The [...]
Worlds oldest shipping company shuts doors after 280 years. – Bloomberg
The world’s oldest shipping company sold its last vessel and is going out of business, according to the liquidator.
Stephenson Clarke Shipping Ltd., started in 1730, has been placed into liquidation, according to a statement from accounting firm Tait Walker. The Newcastle-Upon-Tyne, England- based shipper, which employed nine people, sold off its final vessel in July, according to the statement.
The Baltic [...]
(Bloomberg) – Consumers are set to pay the most ever for hamburgers and steak for this year’s Fourth of July holiday as rising demand pushes beef prices to a record and increases the cost of a basket of barbecue staples.
Retail beef jumped to a record in May and the cost of seven foods commonly consumed while grilling gained 1.8% from a year earlier, according to the Bloomberg-compiled index of barbecue [...]
From Bruce Krasting:
I wrote about a conversation I had with a Greeks shipper living in Athens on May 15. In that article, I conveyed the thoughts of my friend who was convinced that the June 17 Greek elections would produce a different result than the May 26 effort to form a government. At the time he said:
When the next election comes, Greeks will not vote in anger and they will [...]
by steve from virginia
It’s not hard to determine the amount of Greek debt: what was LTRO 1 and what is the upper limit of LTRO 2? One and a half trillion euros all together? How much of that belongs to ‘other’ EU countries? Not much b/c ECB debt taken on subordinates all the other outstanding debt. Figure 200 billion euros for other countries’ debt leaves well over 1.2 trillion euros of [...]
SHIP ORDERS LANGUISH IN THE DRY DOCK OF FUNDING
By Jonathan Saul and Hyunjoo Jin
LONDON/SEOUL – The cancellation of an order from South Korea’s second-biggest ship builder, the country’s first this year, signals a worsening storm as bank funding dries up and overcapacity pulls earnings further under water.
“Daewoo Shipbuilding & Marine Engineering (042660.KS) said late on Friday that a Greek shipper had cancelled a 589.3 billion Korean won ($514 million) order [...]
by ZH
The freefall in the BDIY is just ridiculous: following a steep plunge it has now gone in freefall, and is down 3.9% overnight to 1,186. And to all who are claiming that the index is merely indicating a supply glut from the onslaught of new ship arrivals, well the entire orderbook (in progress) has been public and transparent – to claim it is a [...]
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