Shipping Crisis

There is another crisis that I feel I should let you know about so that you can prepare if it should become a bigger problem. All around the world, goods are sitting on docks waiting to be shipped by boat, but the companies buying the products are not able to get financing to pay for the goods because of the credit crisis. As a result of the big drop off in shipping in the last several months, the cost for rental of a large cargo ship has dropped over 90% as ship owners try to attract business so that they can survive. Ships that were getting over $200,000 a day to haul cargo are now only able to get $5,000 – $9,000 a day. This shipping crisis is an indicator of a much bigger problem. If things don’t change soon, imported items will start disappearing from store shelves when current inventories are depleted. This has the potential of becoming a serious problem because around 50% of the food in America and much of everything we use on a daily basis is imported. To read more on the shipping crisis, search for "shipping crisis".

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