China Syndrome

As the commodity markets crash around us, and everyone is trying to assess whether China is going to come back as the main engine of growth for the world’s economy, the following announcement by D/S Norden A/S provides an interesting perspective on the question:

“Today, D/S Norden A/S entered into its largest ever contract of affreightment covering transportation of more than 15 million tons of coal over a period of 15 years, equivalent to 14 annual Panamax cargoes. Shipments will commence in 2011 and will entail coverage of about 400 ship days per year at an estimated T/C equivalent

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