World business still slowing down


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?

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