Falling Prices Chinese shipping company Cosco to build

Cosco is the world's largest transport operators of ships, iron ore, coal and other bulk goods. But business is bad. There is excess capacity. Cosco combines three subsidiaries. by Claudia Wanner, Hong Kong and Patrick Hagen, Cologne
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The Chinese transport shipping company Cosco responding with a conversion to falling prices in the marine transportation of bulk commodities. Cosco will bring together three previously separate companies for the shipment of bulk commodities such as ore, grain or coal in a company, the Reuters news agency quoted a manager of the majority state-owned enterprise. It is Cosco Bulk Carrier, Cosco Hong Kong Shipping and Qingdao Ocean Shipping. "This allows us to confront our customers in future price negotiations uniform," said the manager.
The market for bulk carrier suffers from huge overcapacity, which provide pressure on prices. This is especially true for Capesize freighter. They are so called because they are too large for the Suez Canal and, therefore, to turn around the Cape of Good Hope have. Typical Capesize ships can carry 175,000 tonnes.
The three daughters Cosco operate more than 400 bulk carriers, the three daughters Cosco operate more than 400 bulk carriers
In recent years, shipowners have ordered large numbers of new buildings coming onto the market. The volume of cargo holds with the excess supply does not keep pace, so drop the rent, charter rates in the industry jargon.

German banking: saving program at possible worsening of the crisis

Monday, 5 September 2011, 15:32 clock


FRANKFURT (Reuters) - German Bank CEO Josef Ackermann includes additional money-saving program in the house, in a further tightening of the debt crisis is not enough.

"When in September and October, the situation worsened again, we need to think again," the Swiss said on Monday at a banking conference. But he considered that this was unlikely. On the contrary: there are some positive signs that the recent negative trend in investment banking was not continuing in the same way, but home loans and private credit could be touched by it. Positive run it also in the less risky