I ran a post on the build-up of cargo ships off Asian ports earlier as the fears of a global recession grew into 2009. A reader brought an interesting article to my attention, and it seems as if the collection of cargo ships has grown even further since early 2009, and is showing no signs of changing. I find this interesting as many have speculated that we have reached bottom and are rebounding back, based primarily on the U.S. stock market and some other economic indicators. What does the continuing stagnation of shipping tell us about where we are at now?

Does the stockpile of ships off Singapore reveal something more ominous?

The innovative shipping company that first experimented in wind power for its fleet, may become the first shipping company to utilize the Northern Sea Route for commercial use. Beluga Shipping currently has three vessels currently transiting along the Northern coast of Russia from Vladivostok to the Siberian outpost Novyy Port where the ships will offload equipment for a power plant project in Siberia. After the cargo is offloaded, and if conditions permit, the three ships will continue heading towards Murmansk, and then to Rotterdam. If successful, this would mark the first time a commercial vessel has crossed from Asia to Europe through the Arctic on a commercial voyage without the assistance of icebreakers.