Double-digit growth in seaborne trade of dry bulk commodities to halt in 2009; World commodity dollar prices projected to fall by 34% in 2009
Nov 19th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The double-digit growth in seaborne trade of dry bulk commodities, such as iron ore and grains, in recent years will come to a halt in 2009 as economic growth in China and elsewhere slows down, commodity analysts and shipbrokers say. World commodity prices as measured by the HWWI-Index (Hamburg Institute of International Economics) in US-dollar terms are projected to fall by 34 percent in 2009 after a rise of 35 percent in 2008 according to Germany's Kiel Institute for the World Economy.