Shipping rates hit zero as trade sinks
Posted on Thursday, January 29th, 2009 | In Gold Markets
Contributed by: Alex Stanczyk (http://rapidtrends.com/blog) -
Shipping rates hit zero as trade sinks
Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October.
The cost of shipping goods from Asia to Europe has tumbled
“They have already hit zero,” said Charles de Trenck, a broker at Transport Trackers in Hong Kong. “We have seen trade activity fall off a cliff. Asia-Europe is an unmitigated disaster.”
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Alex Stanczyk, Ambrose Evans-Pritchard, Asia, Charles de Trenck;, Europe, Gold Markets, Hong Kong, Transport Trackers;
Alex Stanczyk, Ambrose Evans-Pritchard, Asia, Charles de Trenck;, Europe, Gold Markets, Hong Kong, Transport Trackers;
 About Alex Stanczyk (http://rapidtrends.com/blog)
Alex Stanczyk is the editor of Your Financial Future. Mr. Stanczyk has launched numerous businesses, acted as the CEO of a Publicly Traded US Company, and brings over 21 years of business experience to YFF. He has authored numerous articles, mentored hundreds in personal finance and wealth building, and spends at least 4 hours each day studying the global markets, drawing insight and conclusions from the flows of global commerce. As an Affiliate of Anglo Far East Bullion Company, Mr. Stanczyk specializes in teaching foundational principles of money, the gold market, and why gold has been a storehouse for wealth for thousands of years. |
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