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...]