its horizons darkened substantially by continued asset price decay,
as a result of a deepening drop in cargo demands, and a vessel
oversupply crisis that shows no signs of abating.
According to information published in the Financial Times, the
cost of shipping a container of flatscreen televisions from Hong
Kong to Rotterdam has plunged from $1,450 to $200 over the last
year, while the combined tonnage of vessels due to enter the market
in 2009 exceeds the combined total of previous record years 2004
and 2005.
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The vast ensuing excess in supply will put even more stress on
an industry that has already seen portions of container fleets
floating empty, and will only mean bad news for asset pricing as
2009 unfolds.
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