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Thursday, June 12, 2008

Last Year I Commented On Shipping Line Sales

Insiders were selling out.

Bloomberg:
Most Asian stocks fell, led by financial companies and shipping lines, on concern credit-market turmoil and slowing global growth will erode profit.
...
Mitsui O.S.K. Lines Ltd. dropped after rates for transporting commodities by sea had a record decline.
Not really good for commodities. I noticed about six weeks ago that some of the Malaysian domestic lines were agitating to get the government to control foreign competition, so I'm guessing the problem is widespread.


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