Wednesday, February 10, 2010

Any Port In The Storm


Since the recession collapsed world trade last year, there have been a lot more ships without cargo idling at sea.

Even as trade picks up again, the industry will likely experience a slow and delayed recovery, due to a badly-timed production blitz. The ship companies, like Wall St. banks, are suffering for having expanded too aggressively during the economic boom. They have more ships than ever coming out of production, just to sit empty at ports all over the world.

Obviously, this sucks for pirates.

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