Box lines staring at $50bn revenue collapse

[metalman]

Box lines staring at $50bn revenue collapse
Janet Porter - Thursday 25 June 2009

TOP container lines could see $50bn or more wiped off their combined revenues this year as conditions continue to deteriorate, industry experts predict.

A new forecast from shipping analyst Alphaliner puts the anticipated drop in revenue from 2008 levels at $40bn-50bn.

This is broadly in line with Drewry Shipping’s projection of a $55bn collapse in revenue from last year’s income of $220bn, which will catapult the entire industry deep into the red.

more green shit hitting the fan... :eek:

[thunderdownunder]

Re: Box lines staring at $50bn revenue collapse

Tin man,
The news gets no better down under. News reports some 70,000 small businesses are approaching bankrupt status(thats a lot for a small country). There is such a credit squeeze that 30 day accounts are being rung at 14 days to see if they can put a cheque in the mail. State Governments are out 120+ days on payments to large companies building infrastucture under contract to them. Advertised jobs are being pulled before closing dates. Dividends are being cut or even stopped. Raw materials suppliers to China fear that exports that have been cut back may be seriously curtailed once stockpiles are maxed out.
and we are doing well (so far).

Containers are a very good measure of trade (units) so its hardly surprising given the fall off in Japan (2nd largest economy) of 40+% so I do expect that the raw materials that go into them will be down eventually.Then thats the recession for us.
Scary when you start seeing green shoots that don't exist. Reminds me of the early 70's and the effects of an acid trip - except then they where little green men crawling over the wall. Perhaps Bennanke been a tripping on some?