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....
The Baltic Dry Index, a gauge of rates to transport dry- bulk commodities including grains and coal by sea, is down 55 percent this year and on course for a fourth annual slide in five years, data compiled by Bloomberg show. The current slump is “one of the worst experienced for many years,” the shipping company said in the statement." FULL: http://www.bloomberg.com/news/2012-08-09/world-s-oldest-shipping-company-closes-amid-industry-decline-1-.html
"Stephenson Clarke Shipping intends to be recognised as one of Europe’s premier shipping companies, specialising in the transportation of short sea bulk and other cargoes."
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