Ship orders world-wide have shrunk to the lowest level in 15 years as vessel owners struggle with excess capacity that has kept freight rates well below break-even levels.
There were 3,200 vessels of a combined 81 million gross tons ordered globally in the first quarter, the lowest figure since 2004, marine data provider Clarksons PLC said in a report released Friday.
Headline export and import news still negative:
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- Black Privilege is Real in America
- Biden Tells NATO That the US Supreme Court is Destabilizing the World
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- 4th of July Reminder: What the ‘Liberal World Order’ Means in Practice for all Countries Under Its Thrall.
- A Quick Word on EVs and Oil Prices