Credit Crunch will break down MANY ships due for 2010+ delivery
Just to get a feel for your assessment... Credit crunch will ruin the ship BUILDING market but the rest of the BUILDING sectors will thrive, requiring lots of steel, therefore lots of ore. None of them require financing? And if the credit market recover, then all the yards and ships are back on track that you suggest are going to fail? You wouldn't happen to have any actual data to support your thesis would you? Like some cancelled bulker orders or yards that have been cancelled?