10/09/2015at 13:31

Citibank points to threats of new global recession

Several trends indicate a coming global economic recession that will last until 2017, warns major bank ahead of big international meeting in Dalian. Key factors include Chinese slowdown and low Russian and Brazilian growth.

BY KELD LOUIE PETERSEN, FINANS

DALIAN

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

China shocks with new devaluation Wednesday
For subscribers
Chinese stock collapse creates new insecurity in shipping
For subscribers
Big halt in China's export in July
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

"We have seen some three-digit rates in some of the large east-west trades a couple of months back," says CEO of Hapag-Lloyd Rolf Habben Jansen on the loss-generating spot rates on the box market.

Container

Hapag-Lloyd sailing at deficits on several routes: "Spot rates are very, very low"

On several major trades, rates remain so low that carriers are losing money. And fuel has grown more expensive, says Rolf Habben Jansen.

For subscribers

Regulation

IMO marine director calls on carriers to keep up the pace: "Time is against us"

For subscribers

Carriers

French ferry operator blames wage dumping for plunging freight volumes

For subscribers

Regulation

World economy set for weak inflation-plagued recovery, OECD warns

For subscribers

Foto: Damian Dovarganes/AP/Ritzau Scanpix

Container

Cargo volumes across the Pacific hit six-month high

For subscribers

Suppliers

Oil extends drops as US supply rumors return

Hapag-Lloyd sailing at deficits on several routes: "Spot rates are very, very low"

On several major trades, rates remain so low that carriers are losing money. And fuel has grown more expensive, says Rolf Habben Jansen.

For subscribers

Container

Major carriers focus on widely different routes

Asia-Europe remains the biggest business for the container majoers, but beyond that, the top 10 players’ networks vary greatly.

For subscribers

Container

Cargo volumes across the Pacific hit six-month high

Even so, cargoes shipped from Asia across the Pacific remain 20 percent lower than a year ago, notes Alphaliner.

For subscribers

Jobs

See all jobs

Citibank points to threats of new global recession

Read the whole article

With your free trial you get:

Get full access for you and your coworkers

Share article

Related articles:

China shocks with new devaluation Wednesday

Chinese stock collapse creates new insecurity in shipping

Big halt in China's export in July

Sign up for our newsletter

Front page now

Hapag-Lloyd sailing at deficits on several routes: "Spot rates are very, very low"

IMO marine director calls on carriers to keep up the pace: "Time is against us"

French ferry operator blames wage dumping for plunging freight volumes

World economy set for weak inflation-plagued recovery, OECD warns

Cargo volumes across the Pacific hit six-month high

Oil extends drops as US supply rumors return

Further reading

Hapag-Lloyd sailing at deficits on several routes: "Spot rates are very, very low"

Major carriers focus on widely different routes

Cargo volumes across the Pacific hit six-month high

Jobs