Schifffahrt 2010

In the course of 2009, a year which will be long remembered, hope finally replaced fear - a fear born of the unknown and the uncontrollable. The year started under the worst auspices, with a non-existent freight market (except in the tanker sector), a complete absence of vessel sales, plummeting economic consumption affecting the containership sector and, finally, a paralysed financial market totally dependent on the goodwill of international regulatory bodies and government policies. “After a long period of celebration, the wake-up call was particularly painful.”But in the course of the second half of the year, the market regained its colour. The banking system avoided collapse, moneybegan circulating - sparingly but at historically low interest rates - and China made the most of the general disorder and the success of its stimulus plan to regain its health. The compass needle stopped twitching, the market found its fundamentals, and the shipping industry began to regulate itself again, as is common in any cyclical market.