US Credit Worries Cast Dark Clouds Over Asian Bourses

Ripples from the US sub prime lending fiasco have sparked off a heavy selldown on Asian markets as investors shun mortgage-backed securities and other risky investments. Shipping companies in the Asia are certainly not spared from the financial turmoil and we thought it would be interesting to give our readers the latest update on their share performances. The accompanying tables highlight the current and the beginning-of-the-month prices of 40 shipping counters in the region.

To place things into perspective, shipping and related shares in Asia have rallied sharply since the beginning of 2007 with the exception of Indonesia. At the extreme end, shares of Nanjing Water Transport Industry, Ningbo Marine, Tianjin Marine Shipping and Changjiang Shipping Group Phoenix have risen on an average of 209 percent since the beginning of the year and none of them appears to be significantly affected by the present market anxieties.

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