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...that it is not yet clear whether the core manufacturing that is turning again in China is linked to coming export demand or domestic infrastructure investment. "There are always quirks in the pricing," he notes. "And at the moment it seems a very China-centric market." (Read "Plunge in Trade Is a Boon for Singapore Ship Suppliers...
Still, there is inevitably a global dimension to tracking bulk rates. "It's the price for moving raw materials, which sit at the beginning of the production chain," Penn explains. "We can say that the complete lockup of world trade we saw at the end of last year has eased considerably." Penn concludes that his index "is useful to look at, but it's not the holy grail...
...shipping-industry insider notes that any evaluation of transport prices must include not only demand (how much cargo there is to be hauled), but also supply (the quantity of carrier capacity). The steady boom of world trade over the past decade prompted a major shipbuilding spree, with many vessels slated for completion in the coming months and years. "There are new and larger ships on order," notes the source. "I fear that overall rates will not be as responsive to the recovery as a whole." In other words, just as skyrocketing prices in raw-material transport don't guarantee...
...global military intervention, even without the U.N.: piracy. Australia, Bahrain, Britain, Canada, China, Denmark, France, Germany, India, Iran, Italy, Japan, Jordan, the Netherlands, Pakistan, Portugal, Russia, the Seychelles, Spain, Singapore, South Korea, Spain, Sweden, Turkey, the U.S. and Yemen have all contributed to the effort to safeguard international sea trade. Currently that involves 25 warships, scores of surveillance planes and tens of thousands of sailors. (See pictures of Somali piracy...
...criticism of these sorts of measures is quite weak," says Cheng Li, a scholar at the Brookings Institution in Washington, D.C. "Domestically, the atmosphere is very nationalistic, and people support the government. Internationally, other countries need China more than ever now so they don't say anything, just send trade delegations." Cheng cites the recent visit of U.S. House of Representatives Speaker Nancy Pelosi as an example of the changes China's rising influence in the world have brought about. Once so passionate a critic of the Chinese government that she unfurled a banner in Tiananmen commemorating the victims...