Shipping Activity, Trade Down Broadly, No Sign of Recovery

From AP on Breitbart:
Cargo handler DP World said Wednesday that business at its ports dropped 8 percent in the first two months of this year as global trade evaporates because of the global economic slump.

The slowdown shows no signs of easing. The CEO of the Dubai-based company, one of the world's biggest and most geographically diverse port operators, said market conditions are changing on an almost daily basis, making it impossible to predict how badly business might suffer this year.

"Volumes are just disappearing," Chief Executive Mohammed Sharaf said in a round-table with reporters. "It's not that we are losing our business to our competition. ... It's just not there. It's gone."