Global Trade Slowing Warns World’s Largest Container Shipper

Peter's Commentary: The Baltic Dry Index has collapsed to historic low levels, indicating a slow down in global trade. Indeed, South Korea's Hyundai Heavy Industries, the world's largest container shipping company, has just reported losses of $3 billion in 2014. Note that in 2013, the same company reported profits of $730 million. And this is not just due to an over supply in dry bulk … [Read more...]

Baltic Dry Index Collapse Causes Bankruptcy

Peter's Commentary: The Baltic dry index has collapsed to all-time lows. Reuters reports that the privately owned shipping company, Copenship, has filed for bankruptcy in Copenhagen. The Copenship CEO stated "we have reached the point where there is not more to do." Due to the ultra-low shipping fees, it is highly likely that many more shipping companies will soon be going belly … [Read more...]