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TABLE OF CONTENT
WORLD DEMAND INDICATORS, 1
EXECUTIVE SUMMARY, 2
SHIP BUILDING, 3
CRUDE TANKER, 9
CONTAINER, 17
DRY BULK, 30
GLOSSARY, 39
FOREWORD
THIS REPORT REVIEWS THE CENTRAL DEVELOPMENTS IN
SHIPPING MARKETS IN THE PERI OD FROM APRIL TO AUGUST
2009 FOR THE MAIN SHIPPING SEGMENTS AND INDICATES
POSSIBLE FUTURE MARKET DIRECTIONS.
WORLD DEMAND INDICATORS
In April 2009, when we last published our Shipping Market
Review, we were in the eye of the storm. Asset prices were
declining, consumer spending waning and credit spreads were
wider than now. Many OECD economies were in outright
recession.
Today, however, the ogre of the recession seems behind us.
The world economy is reco vering, supported by an
unprecedented use of taxpayer s’ money – either injected
directly into the financial system to support the infrastructure
of the banking system or by more traditional fiscal and
monetary stimulus programs.
Despite the apparent good news, the IMF nevertheless
forecasts (July 2009) that GDP in ‘advanced economies’ will
decline 3.8% in 2009. Such a drop would wipe out all the
growth generated in 2007 and 2008, effectively bringing