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The New York Times recently published an article about the oversupply and overcapacity of cargo ships in this troubled global economy. Trade has undoubtedly suffered because of slumping consumer demand. While this creates an ideal situation for shippers in terms of falling prices, it doesn’t bode well for the cargo shipping business which has seen a number of shipping companies go under. It’s a trend that SmartTurn friend Bob Ferrari of The Ferrari Group (www.theferrarigroup.com/blog1/) sees as detrimental to its the long-term health, and rather a sad state of affairs that shows us we still have a ways to go before an economic recovery.

“Cargo Ships Treading Water Off Singapore, Waiting for Work”
By Keith Bradsher
May 12, 2009
http://www.nytimes.com/2009/05/13/bu...bal/13ship.htm

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