{"id":6129,"date":"2015-03-01T17:42:13","date_gmt":"2015-03-01T22:42:13","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6129"},"modified":"2015-03-01T17:42:13","modified_gmt":"2015-03-01T22:42:13","slug":"worlds-largest-container-shipper-warns-global-trade-is-slowing-down","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6129","title":{"rendered":"World&#8217;s Largest Container-Shipper Warns Global Trade Is Slowing Down"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-01\/worlds-largest-container-shipper-warns-global-trade-slowing-down\" target=\"_blank\">World&#8217;s Largest Container-Shipper Warns Global Trade Is Slowing Down<\/a><\/h3>\n<p>While it will hardly come as a surprise to many, especially those who have followed the\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-02-13\/worlds-largest-shipbuilder-reports-3-billion-loss-baltic-dry-index-hits-new-record-e\">historic collapse of the Baltic Dry index\u00a0<\/a>to levels which, all else equal, signify a global depression of epic proportions&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/02\/20150213_BDIY.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/02\/20150213_BDIY_0.jpg\" alt=\"\" width=\"503\" height=\"364\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&#8230; and which led South Korea\u2019s Hyundai Heavy Industries, the world\u2019s largest shipbuilder, to\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-02-13\/worlds-largest-shipbuilder-reports-3-billion-loss-baltic-dry-index-hits-new-record-e\">report a $3 billion loss in 2014<\/a>, the recent comments of the CEO of the world&#8217;s largest container-shipping group, Maersk Line, should put things into perspective, especially for those who say that the Baltic Dry is no longer indicative of anything but massively dry-bulk ship overbuilding and excess supply (some 8 years after the past cyclical peak).<\/p>\n<p>Unfortunately, as S\u00f8ren Skou, Maerk&#8217;s CEO,\u00a0<strong>admitted when he warned that global trade growth could slow this year from recent 4% growth ratnes, as Chinese, Brazilian and Russian economies disappoint,\u00a0<\/strong>the Baltic Dry is still not only relevant and accurate but telling the real story of global growth, or lack thereof.<\/p>\n<p>As the\u00a0<a href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/c1a51f64-be8e-11e4-a341-00144feab7de.html\">FT reports<\/a>, container demand rose by about 4% in both 2013 and 2014 and Maersk Line, the Danish group that ships about 15% of the world\u2019s seaborne freight, expects it to increase 3 to 5% this year. Actually make it 3%. Or lower.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World&#8217;s Largest Container-Shipper Warns Global Trade Is Slowing Down While it will hardly come as a surprise to many, especially those who have followed the\u00a0historic collapse of the Baltic Dry index\u00a0to levels which, all else equal, signify a global depression of epic proportions&#8230; &nbsp; &#8230; and which led South Korea\u2019s Hyundai Heavy Industries, the world\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3594,1752,3761,3860,805],"class_list":["post-6129","post","type-post","status-publish","format-standard","hentry","category-economics","tag-baltic-dry-index","tag-economic-contraction","tag-global-trade","tag-maersk-line","tag-trade"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6129"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6129\/revisions"}],"predecessor-version":[{"id":6130,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6129\/revisions\/6130"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}