Back in 2009 we saw Rotterdam harbor back-logged with many ships, just waiting for the Baltic Dry Index to rise before they loaded their cargo. Today, in 2012, companies, even the founders of shipping (1730 AD), are selling their boats and closing their doors rather than sit anchored in the North Sea, as we read:
World’s Oldest Shipping Company Closes in Industry Slide By Isaac Arnsdorf - Aug 9, 2012 3:33 PM GMT+0200
"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....