The Asian shipping lanes and ports are facing difficulties due to the global financial downturn.
The Australian has reported that share prices of major shipping companies have plummeted 50-70 percent in the past few months and that the Baltic Dry Index has dropped 85 percent from May to its lowest point in six years. There are concerns about new ship orders, a decline in output, and slowdowns in all areas of the industry. The crisis is affecting industries in Malaysia, Taiwan, Japan and Hong Kong, with a drop in demand from the United States and Europe impacting on manufacturing and electronics.
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