[Vince Ferrer]

I believe it is neutral news for the US. All shipping has to be looked at globally, because that is their perspective. What shippers never considered in 2005 and earlier was that the economy would crash nearly worldwide. They were planning on a US recession, and that they could simply redeploy their ships to other markets. That didn't happen the way they thought it would. Container shipping has largely recovered into profitability, but oil tankers are doing awful as well for the same oversupply reason. It seems odd if ones doesn't know the industry that oil tankers can do poorly while oil itself is exploding, but that is happening now.

[GOPJ]

It seems odd if ones doesn't know the industry that oil tankers can do poorly while oil itself is exploding, but that is happening now.

When the Norwegian Knock Nevis - which can carry 4.1 million barrels of petroleum - is full - it doesn't matter if the barrel price is $60 or $150... same if it's half full...