I quote the following news stories to emphasise my concerns; all from one commercial blogsite.
- Hapag Lloyd stock market floatation very disappointing results.
- Maersk (leading shipping and cargo company) lays 4,000 workers off, and lays up new container ship, and cancels six more huge containership orders.
- Maersk shipping profits tumble by a half.
- Norway’s oil income slumps to lowest total in six years.
- The price of iron ore drops a further ten percent, slowing exports from Australia’s major export port by a further nine percent from September’s total.
- Hornbeck Offshore has a total service vessel fleet of 59 Offshore Service Vessels, but has laid up 30 OSV’s so far, with the possibility of more going quiet.
- Shanghai Container Port’s quarterly net profits were down 18.3% for the same period last year.
All these news stories come from one corner of the global business of the world, but it is an important part; shipping, ships, oils and cargo containerships.
Should we be stocking up on tinned goods, and bulk-buying candles?