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Effects of the Greek crisis in the shipping industry

Effects of the Greek crisis in the shipping industry

The shipping industry is in crisis, companies are reporting plunging profits and its conditions are now tougher than after the global financial crash. The Baltic Dry Index, a benchmark for the health of the global shipping industry, has recently plumbed all-time lows. Jonathan Roach, container market analyst at shipbroker Braemar, said the industry is being… Read More…

Global dry bulk shipping in the brink of disastrous crisis

Global dry bulk shipping in the brink of disastrous crisis

What is Dry Bulk Shipping? The term “dry bulk carrier” is used to distinguish bulkers from bulk liquid carriers such as oil, chemical, or liquefied petroleum gas carriers. Very small bulkers are almost indistinguishable from general cargo ships, and they are often classified based more on the ship’s use than its design. A bulk carrier… Read More…

Shipping industry decline: Global slowdown effects on international trade

Shipping industry decline: Global slowdown effects on international trade

The ongoing financial meltdown, mainly in the United States and the European Union, has had a straight effect on the flows of international trade with a direct influence on the labor sector. The slow growth has been the result of austerity, and while industrial and consumer demand vanishes, additional growth decreases and an international trade… Read More…

Shipping bankruptcy: What happens worldwide?

Shipping bankruptcy: What happens worldwide?

The shipping industry has been experiencing one of the worst moments of its history. Actually, several shipping companies have been through restructuring processes because of the crisis: Genco Shipping & Trading, General Maritime, Overseas Shipholding Group, Nautilus Holdings, ZIM Integrated Shipping Services, STX Pan Ocean, Excel Maritime Carriers, B&H Ocean Carriers and Ermis Martime Shipping,… Read More…