dbct news, page-4

there are massive stockpiles of bulk commodities currently sitting in the steel producers yards around the world as a result of massive shipments that took place in the second half of 2008.

The fall off in demand combined with these massive shipments has caused the drop off in shipments.

If you look across on the iron ore strings, you will see comments about how the producers are now mowing down their stockpiles and demand is picking up again.

I suspect this is similar for the coal market and shipments will pick up again.

Given that there were ships queuing up outside Newcastle for a week at a time in 2008 waiting to get loaded up, I do not think lack of demand is going to be a problem.