CEO of Maersk Group Nils Anderson told the Financial Times Wednesday that the world’s economy is worse than in 2008.
Anderson’s comments came after Maersk Line, the companies most valuable subsidiary and the world’s largest container operator, reported $182 million in 4th quarter losses.
Maersk Line’s losses were part of a larger overarching profit loss, which saw Maersk Group, considered the world’s largest shipping company, report an 84% drop in profits for 2015, falling to $791 million from $5.02 billion in 2014.
In an interview with Financial Times (FT), Anderson commented on the negative data reports by saying “It is worse than in 2008. The oil price is as low as its lowest point in 2008-09 and has stayed there for a long time and doesn’t look like going up soon. Freight rates are lower.” Adding a positive he said “the external conditions are much worse but we [Maersk] are better prepared,” and “we [Maersk] are very strongly placed not only to get through this period but benefit from it. We are quite enthusiastic about it.”
ZeroHedge didn’t share Anderson’s optimism, and called for the public to “check back in six months to see how ‘enthusiastic’ Andersen is once he realizes the slump in global growth and trade is no longer cyclical but has in fact become structural and endemic.”
Maersk does however share the short-term outlook of a global economic slowdown, noting that though capacity in the container shipping industry increased 8 % in 2015, their analysis shows that global trade will only grow between 1% and 3% in 2016.
“Imports to Brazil, Europe, Russia, and Africa are all falling,” Andersen warned. He also said the company’s business is suffering from a “massive deterioration,” one which ZeroHedge predicts will likely lead to a parallel deterioration in Maersk’s share prices, which fell $43.72 (-3.55%) to $1187.34 upon the release of their quarterly and annual results.
TRUNEWS previously covered the systematic deterioration of global trade with an emphasis on the Baltic Dry Index (BDI), which is currently at an all time low of 291, a prime indicator which reaffirms the outlook that there will be no economic recovery in the near future.
Below we have another commentary from Terry James:
A perhaps not-so-shocking, but certainly attention-getting, news item points to the ugly head of anti-Israel action arising. The stark growth of Israel and Jew-hating is front and center in the heart of Europe, where Adolf Hitler did his worst to eliminate all of God’s chosen –where Antichrist will arise to try to finish the job the Nazis began.
Although the rise in anti-Israeli sentiment might seem subtle with it coming from the halls of European academia, the world-wide Boycott, Divestment and Sanctions movement against the Jewish state is growing more incendiary. The academic community urges that all join the BDS movement.
Current issues and events that look to be harbingers of the biblically prophesied apocalypse bombard this generation of earth’s inhabitants. Jesus’ Olivet Discourse prophecies, foretelling things to come in the time of “great tribulation,” seem to leap from news reports that are becoming so routine that they no longer shock. No signal is more prophetically significant than present circumstances involving the state of Israel and city where Jesus was crucified nearly twenty centuries ago.
Jerusalem is at the center of satanic rage, and the rage is bursting forth at the center of supposedly civilized Europe, where Islam is in the process of taking over. This is as the Old and New Testament prophets said it will be just before Christ returns to a planet that is home to a world of rebels against God. That rebellion is scheduled, the prophets forewarn, to culminate in history’s final and most destructive war. Armageddon will be triggered because of both Satan and fallen mankind’s determination to install themselves upon the single spot on earth dearest to the heart of God.
Mount Moriah sits at the southern end of the ancient city, crested by a golden dome that represents 1.5 billion people whose religion demands of its adherents blood-vowed opposition to God’s chosen nation, Israel. This is the place God picked to have His temple on earth constructed. It is the precise location where the Third Temple will sit–the Temple that will be desecrated by Antichrist, earth’s last and most beastly tyrant.
Even more importantly, the Temple Mount will be the home of Christ’s Millennial Temple. Moriah, then to be known as Zion, will be supernaturally elevated by the tremendous topographical changes caused when the Lord’s foot touches the Mount of Olives at His return.
Diplomats of the world have, for the past four decades, engaged in effort after effort to bring stability to the region, at whose heart the city of Jerusalem sits. We remember the many settings to and from Washington D.C., Jerusalem, and other capitals of the Mideast. From Henry Kissinger, Zbigniew Brzezinski, James Baker, Madeleine Albright, Colin Powell, and Condoleezza Rice to, now, John Kerry and even Barack Obama–America’s secretaries of state and a most strangely assertive president have burned mega-gallons of jet fuel in trying to find the formula for peace that would defuse the Armageddon bomb.
All of that diplomatic shuffling is mere prelude to the fretting that is about to take place over this, the most important, thus most volatile, nation and city on planet earth. Zechariah the prophet foretold the end-time anxiety that we believe is, observably, now on the precipice of gripping the international community.
Behold, I will make Jerusalem a cup of trembling unto all the people round about, when they shall be in the siege both against Judah and against Jerusalem. And in that day will I make Jerusalem a burdensome stone for all people: all that burden themselves with it shall be cut in pieces, though all the people of the earth be gathered together against it. (Zechariah 12:1-3)
There is good reason for the building anxiety. Israel’s terrorist-sponsoring neighbors to the north strive mightily to develop nuclear bombs and missiles that will deliver them. No one doubts in which direction these missiles will be pointed should Iran be successful in producing such weapons of mass destruction. Israel’s one, common declaration amidst all of the political infighting remains the core of its defense. “Never again!”
The Jewish people of Israel collectively declare they will never again let themselves be enslaved within regimes that want them erased from the earth. Never again will they allow the genocide they have suffered through the centuries. Their national vow is backed by the ominous “Samson Option.” This last-ditch military imperative is not lost on the leaders of the international community, which is headed by the G-8 nations.
These leaders of this enlightened age might not believe the Bible is the word of God, but, they know the story of Samson and what happened when he was finally put in a predicament in which he could no longer be free. The world’s diplomats–at least those of the western world—have no doubt that the Israeli Defense Force will bring the house down around them, if it comes to that as Israel’s only viable option. The international community –once termed “the new world order”– has developed a systemic neurosis involving the bleak outlook for the future of the Israeli-Palestinian conflict. The “Roadmap to Peace” seems to be the nerves-soothing therapeutic course of action upon which the powers-that-be have chosen to eliminate the possibility of nuclear conflict being triggered over earth’s most coveted city.
World leaders are obsessed with Jerusalem. They consider Jerusalem the trigger to Armageddon; they will do whatever it takes to diffuse that trigger.
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