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MARKET COMENTARY – JUNE 2009

Question One: What were the five biggest economic crashes in history before this one? Answers in the Blog “The Five Big Crashes.” Don’t cheat – see how many you can think of first.

Question Two: What is a sudden influx of freight research and analysis vacancies? a) A coincidence? b) A trend? c) Green shoots of recovery?

You can make up your own mind of course, but even the heady days of the 11,000+ BDI we didn’t see such demand for brains that know their supply from their demand and it’s made us wonder. We’re also seeing growing demand for business service and customer service professionals (the ones that make our businesses work by making us all comply with their wretched (but very necessary) processes and procedures) as well as those who know a thing or two about Corporate Social Responsibility.

So, it’s clear. When there’s an upturn in the market, Spinnaker’s clients will know it’s coming and will be ready to deliver responsible tip top customer service. When the next crash comes, they’ll also be ready. They’ll have sold tonnage and FFAs at the top of the market, they’ll have won lucrative long term CoA business and they’ll be sitting on piles of cash waiting to pounce.

Joking aside, it’s an interesting development. When money’s not so easy to come by and the market’s not so easy to predict, we have to think harder and work harder. Maybe that’s what’s behind the demand. Either way, if you’re a customer service expert in shipping or insurance or you know that Contango isn’t a drink, we might just have the job for you.

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