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opening excerpt
Figure WDI.3
OECD industrial production drops 12% in 2009
OECD industrial production back to 2003 level
80
90
100
110
120
2005 2006 2007 2008 2009 2010
Index (2000 = 100)
80
90
100
110
120
Index (2000 = 100)
Sources: Reuters EcoWin, Danish Ship Finance
OECD Industrial Production
-12%
Figure WDI.4
Record-high 51 million cgt delivered in 2009
More than twice the capacity delivered in 2004
-
20
40
60
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Million CGT
-
20
40
60
Million CGT
Sources: Clarksons, Danish Ship Finance
2009 = 2 x 2004 deliveries
global recovery over the period. GDP in the emerging and developing
economies, taken together, rose 2.1% (developing Asia 6.5%).
ASIAN GROWTH SUPPORTED CRUDE TANKERS AND DRY BULK DEMAND IN 2009
The lower OECD industrial produc tion significantl y reduced OECD
demand for raw materials (incl. o il). OECD demand for crude tankers
and dry bulk declined accordingly. Container and product tanker demand
followed suit. However, the fiscal stimuli programs initiated in several
Asian economies boosted demand for raw materials. The increased Asian