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Hanjin shipping bankruptcy: ‘Efficient’ just-in-time delivery not so efficient after all
Hanjin shipping bankruptcy: ‘Efficient’ just-in-time delivery not so efficient after all We are about to learn once again that lack of resilience is the flip side of efficiency. The world’s seventh largest shipping firm, Korean-based Hanjin Shipping Co. Ltd., failed to rally the support of its creditors last week and was forced to file for bankruptcy. […]
The Great Debt Unwind Beneath the Surface: US Commercial Bankruptcies Soar
The Great Debt Unwind Beneath the Surface: US Commercial Bankruptcies Soar They’d believed in six years of Wall Street hogwash. Not that you would have guessed from the stock market, hovering at all-time highs, or from soaring junk bonds, even the riskiest paper: CCC-and-below rated junk bonds skyrocketed since their February 12 low as their […]
Global Supply Chains Paralyzed After World’s 7th Largest Container Shipper Files Bankruptcy, Assets Frozen
Global Supply Chains Paralyzed After World’s 7th Largest Container Shipper Files Bankruptcy, Assets Frozen After years of relentless decline in the Baltic Dry index… … today the largest casualty finally emerged on Wednesday when South Korea’s Hanjin Shipping, the country’s largest shipping firm and the world’s seventh-biggest container carrier, filed for court receivership after losing the […]
Chinese Bankruptcies Surge More Than 50% In Q1; Worse To Come
Chinese Bankruptcies Surge More Than 50% In Q1; Worse To Come Two months ago, when looking at the soaring number of bond issuance cancellations and postponements as calculated by BofA, we commented that it was only a matter of time before the long overdue tide of corporate defaults, held by for so many years by the Chinese […]
US Commercial Bankruptcies Skyrocket
US Commercial Bankruptcies Skyrocket The “credit cycle” begins to unravel. One of the big indicators of the end of the “credit cycle” is the number of bankruptcies. During good times, so earlier in the credit cycle, companies borrow money. Then, overconfident and lured by low interest rates and overoptimistic rosy-scenario rhetoric emanating from all sides, they […]
We Could Be Witnessing the Death of the Fossil Fuel Industry—Will It Take the Rest of the Economy Down With It?
We Could Be Witnessing the Death of the Fossil Fuel Industry—Will It Take the Rest of the Economy Down With It? In just two decades, the total value of the energy being produced via fossil fuel extraction has plummeted by more than half. Now $3 trillion of debt is at risk. Photo Credit: Pixabay It’s […]
Why Are Bankrupt Oil Companies Still Pumping?
Why Are Bankrupt Oil Companies Still Pumping? A central tenet in the thesis by analysts about the oil markets rebalancing has been that as prices declined, oil companies would be forced into bankruptcy. That in turn would lead to declining production, and eventually a rebalancing of supply and demand in the market, followed by higher […]
Corporations Are Defaulting On Their Debts Like It’s 2008 All Over Again
Corporations Are Defaulting On Their Debts Like It’s 2008 All Over Again The Dow closed above 18,000 on Monday for the first time since July. Isn’t that great news? I truly wish that it was. If the Dow actually reflected economic reality, I could stop writing about “economic collapse” and start blogging about cats or […]
$3 Trillion Black Hole Could Destroy Economy: “True Extent of Pension Problem Has Been Obscured”
$3 Trillion Black Hole Could Destroy Economy: “True Extent of Pension Problem Has Been Obscured” Yet another reason why taxes are going up, cities and states are going broke, and the world is approaching financial implosion… As if the world needed another dangerous and volatile factor in the mix of looming economic downturn. Unfunded liabilities […]
Illinois on the Brink of Bankruptcy
Illinois on the Brink of Bankruptcy The Hunt for Taxes The pension crisis is brewing and the one state that appears to be heading toward a complete bankruptcy is Illinois. Clients should not own ANY debt from Illinois, be it city, municipal, or state. Just get out before the curtain falls. The Illinois Constitution plainly states […]
Impatient Banks: A Real Red Flag For The Oil Patch
Impatient Banks: A Real Red Flag For The Oil Patch Lenders to the oil and gas industry have been extraordinarily lenient amid the worst downturn in decades, allowing indebted companies to survive a little while longer in hopes of a rebound in oil prices. But the screws are set to tighten just a bit more […]
Court Decision Could Accelerate Oil And Gas Bankruptcies
Court Decision Could Accelerate Oil And Gas Bankruptcies Oil and gas data experts Evaluate Energy showed yesterday that U.S. E&Ps took a huge hit in 2015. With the value of total proved reserves in the sector declining by an astounding $515 billion dollars. The chart below shows just how great the damage is, compared to […]
