Hanjin Ocean Freight Bankrupcy

[errolanderson]

This is a major ocean freight bankruptcy mess . . . .

https://www.theguardian.com/business/2016/sep/02/hanjin-shipping-bankruptcy-causes-turmoil-in-global-sea-freight

[bucket]

As in the fertilizer business they will consolidate to make the numbers work.

Same number of ships or capacity but fewer owners bidding....it's called collusion and is no longer a crime.....

[errolanderson]

Failing global economies and trade is the reason for this major ocean freighter loss.

But is also points to a much deeper picture of falling consumerism and a potential rash of corporate bankruptcies into 2017.

To me, this is also responsible for the beef price collapse this week.

[bucket]

How is that the Chinese know how to make the sky fall. And take advantage of it?

[biglentil]

When 0 percent and even NIRP fail to kick the can down the road whats left? Another QE? Perhaps a healthy bailin to remind savers that they are nuts.

[ajl]

No amount of financial engineering will save us from the coming collapse. Standards of living in Canuckistan will be much much lower 30 yrs from now.

[errolanderson]

The reason this bankruptcy was brought up is it may be significant enough to trigger a domino affect of corporate bankruptcies. This is world trade on these ships. Also, Made in China Christmas items are also in containers. 2017 could be a year of a rash of unexpected corporate closures, mergers, bankruptcies.