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More turtle, less rabbit

Dalian: With the Lunar New Year festivities underway we wish all readers of Seatrade Asia as prosperous a Year of the Rabbit as is possible under the circumstances. The shipping industry enters this year, which is characterised for its good fortune, in a heavy mood. The Baltic Dry Index closed yesterday at a two-year low, standing at just 1,064 points, while the tanker segment is enjoying a brief respite because of the turmoil in Egypt, but tankers remain depressed in general. Similarly, the container market, which dragged itself to record profits last year, has started 2011 in a struggling manner, with the Shanghai Container Index posting declines week in, week out. The huge orderbook still to deliver weighs heavily like a tortoise shell as the Year of the Rabbit is off and running. Gong xi fa cai! [03/02/11]

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