Has the economy impacted the air freight and logistics, and maritime industries?
Mr. Sterling: The economy has impacted the air freight and logistics, and maritime industries. As freight volumes dropped and with the decline in demand, pricing fell. However, the economy and freight volumes are looking pretty good right now. We are seeing a pickup in demand, particularly in air freight. If you look at air freight, especially trends coming out of Asia, and look at some of the air freight statistics for the first three months of the year, we’re above 2008 and 2007 levels. And that is quite impressive and very encouraging. And that tells me there is some real demand. There is no surprise that we’re above 2009 levels because 2009 was so bad, particularly the first half of the year. UPS (UPS) and FedEx (FDX) have been reporting strong earnings, driven by their international air volumes. And while it is an element of inventory restocking, there is some incremental demand as well, particularly tech and retail. A lot of tech moves by air freight. For instance, every time you
