{"id":469452,"date":"2010-03-25T01:13:00","date_gmt":"2010-03-25T05:13:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/the-worlds-largest-shipper-isnt-sold-on-the-trade-recovery-its-balanced-on-a-knifes-edge-2010-3"},"modified":"2010-03-25T01:13:00","modified_gmt":"2010-03-25T05:13:00","slug":"maersk-look-at-the-lopsided-trade-data-this-recovery-wont-float","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/469452","title":{"rendered":"Maersk: Look At The Lopsided Trade Data, This Recovery Won’t Float"},"content":{"rendered":"

\"Chart\"<\/p>\n

Seaborne trade accounts for 80% of world trade by volume… so what’s seen at sea has significant implications for what happens on land.<\/p>\n

Thus you have to perk up when the largest shipping company in the world, Maersk, says it isn’t buying into the global trade recovery yet.<\/p>\n

Hennie van Schoor, Maersk Line’s Asia-Pacific director of business performance, thinks the math, so far, doesn’t add up to a sustainable recovery:<\/p>\n

France 24:<\/a><\/p>\n

“The situation remains very, very fragile for the shipping industry,” said Hennie van Schoor, Maersk Line’s director of business performance, Asia-Pacific.<\/p>\n

“It is balanced on a knife’s edge,” he said in a keynote speech at the Asia Pacific Maritime 2010 conference in Singapore.<\/p>\n

…<\/p>\n

He cited data showing that US imports rose 13 percent year-on-year in the fourth quarter of 2009, but retail sales in the same period expanded by only 1.0 percent.<\/strong><\/p>\n

For Europe, the continent’s imports were up 3.0 percent, but retail sales climbed a mere 1.0 percent.<\/p>\n

“What this is telling us is that the underlying demand for growth is not there yet,” he said.<\/strong><\/p>\n

It’s an excellent point the ‘sustainable recovery’ bulls will need to contend with.<\/p>\n

Add my twitter for more like this: @vincefernando<\/em><\/p>\n

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