Gloomy Announcements in Transport and Energy Industries Raise Questions over Recovery

London — June 8, 2009 — Declines in the Baltic Dry Index (BDI), international air cargo volumes and forecasted decline in trade volumes by the World Trade Organization (WTO), along with those of weak crude oil demand until 2012 from the International Energy Agency (IEA), have raised questions over claims from some quarters of a quicker-than-expected global economic recovery, according to a logistics industry analyst.

J. Krishna Kumar, logistics senior analyst with the firm Datamonitor, says that despite the recent rally in the stock market brought on by these claims, these new announcements suggest that a full recovery is still a long way off.