Thoughtful comment.
Maybe it's a two-edged sword.
Under-utilisation and over-supply.
I doubt we'd have over-supply if Europe and China were growing at pre-GFC levels.
The following from Zero Hedge - suggests that the dominant factor is slowing growth:
The Baltic Dry Index is based on shipping costs. Of course - maybe the poor figures there are due to an increasing supply of big ships? Maybe.
The other graph (Consensus World 2014 GDP Growth Estimate) is more telling.
Redbacka
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Thoughtful comment. Maybe it's a two-edged sword....
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