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.

By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 5:53AM GMT 14 Jan 2009

"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 unmit*igated disaster."

Shipping journal Lloyd's List said brokers in Singapore are now waiving fees for containers travelling from South China, charging only for the minimal "bunker" costs. Container fees from North Asia have dropped $200, taking them below operating cost.

Industry sources said they have never seen rates fall so low. "This is a whole new ball game," said one trader.

The Baltic Dry Index (BDI) which measures freight rates for bulk commodities such as iron ore and grains crashed several months ago, falling 96pc. The BDI – though a useful early-warning index – is highly volatile and exaggerates apparent ups and downs in trade. However, the latest phase of the shipping crisis is different. It has spread to core trade of finished industrial goods, the lifeblood of the world economy.

Trade data from Asia's export tigers has been disastrous over recent weeks, reflecting the collapse in US, UK and European markets.

Korea's exports fell 30pc in January compared to a year earlier. Exports have slumped 42pc in Taiwan and 27pc in Japan, according to the most recent monthly data. Even China has now started to see an outright contraction in shipments, led by steel, electronics and textiles.

A report by ING yesterday said shipping activity at US ports has suddenly dived. Outbound traffic from Long Beach and Los Angeles, America's two top ports, has fallen by 18pc year-on-year, a far more serious decline than anything seen in recent recessions.

"This is no regular cycle slowdown, but a complete collapse in foreign demand," said Lindsay Coburn, ING's trade consultant.

Idle ships are now stretched in rows outside Singapore's harbour, creating an eerie silhouette like a vast naval fleet at anchor. Shipping experts note the number of vessels moving around seem unusually high in the water, indicating low cargoes.

It became difficult for the shippers to obtain routine letters of credit at the height of financial crisis over the autumn, causing goods to pile up at ports even though there was a willing buyer at the other end. Analysts say this problem has been resolved, but the shipping industry has since been swamped by the global trade contraction.

The World Bank caused shockwaves with a warning last month that global trade may decline this year for the first time since the Second World War. This appears increasingly certain with each new batch of data.

Mr de Trenck predicts Asian trade to the US will fall 7pc this year. To Europe he estimates a drop of 9pc – possibly 12pc. Trade flows grow 8pc in an average year.

He said it was "illogical" for shippers to offer zero rates, but they do whatever they can to survive in a highly cyclical market.

Offering slots for free is akin to an airline giving away spare seats for nothing in the hope of making something from meals and fees.

Shipping rates hit zero as trade sinks - Telegraph

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Jur, la que se va a liar en el Puerto de Valencia cuando vean que no llegan los barquitos con contenedores.

1)los camioneros no van a tener mercancias con que hacer huelga

2)cada vez es más barato para los especuladores alquilar barcos para almacenar todo tipo de materias esperando "tiempos mejores"

3)¿vuelve la autarquia?

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Con meter a la Rita Barberá a cachos en una flota de contenedores, se le da uso al puerto durante un semestre, hasta que se recuperen los chinos y puedan volver a inundarnos de mierda producida con obra de mano esclava...

Ya lo comentara Don Alvin Red hace poco tiempo, con demoledoras gráficas:



http://www.burbuja.info/inmobiliaria...ml#post1134211





Mientras tanto por casa tenemos esto:

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Ese índice tan madmaxista que nos encanta (esto si que es un indicador de anticipación ...)

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El gran castañazo en tiempo real, desde luego da miedo.

Mientras que nuestra única importación no se convierta en cereales argentinos como en los años 40 podemos seguir tirando de tarjeta. ¿O no?

Ya te digo, lo que tiene que ser ver las listas de curro de Sevasa. Yo desde hace un tiempo vengo notando que el trafico de barcos es menor de cuando trabajé en Maritima en el 2006, pero no sabía si era cosa de que habían menos TEUs o que con los nuevos portacontainers gigantes movían lo mismo con menos barquitos... la cosa debe estar jodida jodida

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