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“Orders are definitely down. Volumes are way down,” said Joe Monaghan, CEO of Worldwide Logistics Group. “Overall vessel utilization is down even with the large number of blank (canceled) sailings.”
According to Freightos, despite the increase in canceled sailings which has cut vessel capacity, the hemorrhaging of ocean freight prices continues:
Comment: Falling Oil prices? Google reversal of globalization, or deglobalization. Lots of stories. If you guys remember, on 9/11/01 I stated that was the end and beginning of a reversal of the prior decades. It was a no brainer for me.
It was a big Sucker Punch to world trade and Western countries pissing off other countries, and they torpedoed the World Trade Center. That torpedo led to Torpedo #2 with the global financial crisis in 2008.
And if the Bozo Master planners still didn’t get the message, the hint of reversal needs and Trend we got a reversal President Trump. Then as they stumble, punch drunk, the next Torpedo was Covid 19. I knew what was coming in 1969 when Yoko Ono and John Lenin promoted “a world that lives as one” it was a dream, a big mistake.
The Fantasy is always better than the reality. We always get what we try to resist. I’m glad I lived long enough to see I was right. I also predicted China would replace USSR for another fake rivalry to promote justify more defense spending on both sides, probably to replace lost jobs as the economies slow down or fail.