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☆ South China Sea tensions are flaring between the Philippines and China. Here's why it matters for the world
▼ + stars: | 2023-09-29 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +10 min

Over the past two decades, China has occupied a number of obscure reefs and atolls far from its shoreline across the South China Sea, building up military installations, including runways and ports. Video Ad Feedback Why it matters who owns the seas (April 2021) 03:48 - Source: CNNWhy does the South China Sea matter? The South China Sea is home to hundreds of largely uninhabited islands and coral atolls and diverse wildlife at risk from climate change and marine pollution. The US is not a claimant to the South China Sea, but says the waters are crucial to its national interest of guaranteeing freedom of the seas worldwide. Marcos has strengthened US relations that had frayed under his predecessor, with the two allies touting potential future joint patrols in the South China Sea.

Persons: It’s, China’s, Defense Lindsey Ford, ”, Stringer, Ferdinand “ Bongbong ” Marcos Jr, Jay Batongbacal, “, Marcos Jr, Rodrigo Duterte, Marcos, Gregory Poling Organizations: Hong Kong CNN —, Navy, CNN, US Energy Information Agency, Communist Party, United, US Navy, Defense, Asia, Washington -, Strategic, International Studies, Ford, Spratly Islands, University of the, Philippine Coast Guard, China’s Ministry of Foreign Affairs, Transparency, Philippines Mutual Defense Locations: Hong Kong, South China, China, Beijing, Philippines, United States, South, The Philippines, Malaysia, Vietnam, Brunei, Taiwan, The Hague, Manila, Scarborough, Spratly, People’s Republic of China, Washington, Philippine, University of the Philippines, Asia

☆ South China Sea: Philippines accuses Chinese maritime militia of destroying coral reefs near Palawan
▼ + stars: | 2023-09-22 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +11 min

Philippine Coast Guard/FacebookTarriela said between August 9 and September 11, the coast guard monitored 33 Chinese vessels within the vicinity of Rozul Reef and around 15 Chinese ships near Escoda Shoal. The UP Marine Science Institute found vibrant corals in the Rozul (Iroquios) Reef in the South China Sea in May 2021. At least two foreign ambassadors in Manila have expressed alarm over reports of destruction of marine resources in the South China Sea. The grounded Philippine navy ship Sierra Madre, which Manila uses to stake its territorial claims at Second Thomas Shoal in the Spratly Islands in the disputed South China Sea, as pictured on April 23, 2023. Under current President Ferdinand Marcos Jr., the country’s National Security Team began to publicize its findings about what was actually happening in the West Philippine Sea and the South China Sea more regularly, Powell said.

Persons: Jay Tarriela, ” Tarriela, Facebook Tarriela, Tarriela, Mao Ning, “, ”, Gerry Arances, Arances, Ray Powell, SeaLight, Powell, Philippines MaryKay Carlson, Kazuhiko Koshikawa, Rodrigo Duterte, Shoal, Ted Aljibe, Thomas Shoal, Ferdinand Marcos Jr Organizations: CNN, Philippine Coast Guard, Chinese Maritime Militia, Facebook, Philippine, Spratly Islands, Philippine coastguard, University of, Philippines Marine Science Institute, country’s National Security Council, Scientific, UP Marine Science Institute, Marine Science, CNN Philippines, Center for Energy, coastguard, National Security, Stanford University, The, United, Philippine Department of Foreign Affairs, Asia, Transparency Initiative, BRP, BRP Sierra Madre, National Security Team, West Philippine, South China Locations: South, Philippines, China, Sabina, South China, Palawan, Beijing, Philippine, Rozul, Escoda Shoal, ” Beijing, China’s, Malaysia, Brunei, Taiwan, The Hague, West Philippine, United States, Indonesia, Vietnam, The Philippines, Manila, Sierra, Spratly, AFP, BRP Sierra, Sierra Madre, West

☆ 'Incredibly compelling': The pros love small-cap stocks right now. Here are their top picks
▼ + stars: | 2023-09-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Matt Orton, chief market strategist at Raymond James Investment Management, was the latest to urge investors to "strategically add" to small-cap stocks right now. Tom Ognar, senior portfolio manager at Allspring Global Investments, said small- and mid-cap stocks look the "most incrementally interesting" among growth stocks. "We're very attuned to the valuation discounts currently being afforded to small- and mid-cap stocks after protracted periods of underperformance relative to large-cap stocks," he said. It screened for the best small-cap stocks to play an economic recovery. RBC Capital Markets also released, in a September note, an updated list of what it called "high conviction" U.S. small-cap growth recommendations.

Persons: Matt Orton, Russell, CNBC's, Orton, Tom Ognar, Ognar, CNBC'S, Valvoline, it's, — CNBC's Michael Bloom Organizations: Raymond James Investment Management, Allspring Global Investments, . Bank of America, Microsystems, Technologies, RBC Capital Markets, Automotive, RBC, Clearwater Analytics, Clearwater, Xenon Pharmaceuticals

☆ JPMorgan says interest in solar energy for homes remains high so buy these stocks for the long term
▼ + stars: | 2023-09-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There could be better-than-expected uptake in residential solar energy — and that can mean good news for some stocks in the space, according to JPMorgan. "We believe the survey results signal that homeowner interest for adding residential solar systems is stronger than currently low investor sentiment and recent under performance of residential solar stocks indicates," he said. Long-term investors can find value in high-quality residential solar as the market gains favor over time, he said. He pointed to Sunrun , Sunnova , Enphase and Solaredge as good picks in the area. Ultimately, the survey showed that homeowners interested in solar will likely install it, but it may not be a near-term decision.

Persons: Mark Strouse, That's, Strouse, — CNBC's Gina Francolla, Michael Bloom Organizations: JPMorgan, Analysts, Technologies, Shoals Technologies

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Disney, Walmart, Lowe's, Alphabet and more
▼ + stars: | 2023-09-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

TD Cowen upgrades Domino's to outperform from market perform TD said in its upgrade of the stock that it sees upside to same-store sales. Bernstein reiterates Apple as market perform Bernstein said similarities exist between IBM 10 years ago and Apple today. Morgan Stanley reiterates Walmart as overweight Morgan Stanley sees an attractive risk/reward for Walmart shares. RBC upgrades American Express to outperform from sector perform RBC said the credit card company is "best positioned" to outperform. Jefferies reiterates Alphabet as buy The firm is more bullish on Alphabet shares after the company's recent Google Cloud event.

Persons: TD Cowen, Woodward, Uber, Cantor Fitzgerald, Wells, Bernstein, Morgan Stanley, Goldman Sachs, Lamb Weston, Stryker, Baird, Wolfe, Stifel, Jefferies, GOOGL's, We've Organizations: DIS, Media, Apple, IBM, Walmart, Bank of America, of America, Citi, Technologies, UBS, RBC, Dine Brands, Susquehanna, Barclays, Oracle, Vail Resorts, MTN, Google, Nvidia Locations: U.S, North America

☆ The iconic flying boat that helped hunt down Axis warships during World War II is getting a new lease on life
▼ + stars: | 2023-08-16 | by ( Michael Peck | ) www.businessinsider.com time to read: +8 min

The PBY Catalina flying boat was one of the most iconic Allied aircraft of World War II. The PBY Catalina flying boat was one of the most iconic Allied aircraft of World War II. The Next Generation Amphibious Aircraft Catalina II "is a modern amphibian with advanced engines and avionics and will offer capabilities no other amphibian can provide today." Catalina Aircraft announcement listed almost 60 civilian and government missions the Catalina II will be able to perform. After serving in several Allied militaries during World War II, many Catalinas remained in operation with militaries and civilian users around the world.

Persons: Lawrence Reece, John Redfield Catalina, Martin P5M, Marlin, Catalinas, Li Ziheng, Michael Peck Organizations: PBY Catalina, Allied, PBY Catalinas, Service, Aircraft, Catalina Aircraft, PBY, Getty, Catalina, US Navy PBY, Naval, Christi, of, Civilian, Missions, US Coast Guard, French, US Coast Guard Reserve, Consolidated Aircraft PBY Catalina, US Navy, Royal Navy, US Air Force Special, Command, DARPA, Liberty, Defense Force, Defense, Foreign Policy, Twitter, LinkedIn Locations: Wall, Silicon, Florida, Catalina, Alaska, Bettmann, Canada, Soviet Union, San Diego Bay, Midway, Qingdao, China, Xinhua, Guam, Forbes

☆ China tells Philippines to remove grounded warship in South China Sea
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

BEIJING/MANILA, Aug 7 (Reuters) - China told the Philippines on Monday to remove its grounded warship from the Second Thomas Shoal in the South China Sea after blocking two Manila supply ships with water cannons over the weekend as both sides asserted their claims of the area. The Philippines in 1999 intentionally grounded the warship to stake its claim to the Second Thomas Reef, a submerged reef that is part of the Spratly islands in the South China Sea. China over the weekend said it had "indisputable" sovereignty of the area and urged the Philippines to stop infringing activities in this waters. Philippines President Ferdinand Marcos Jr. said on Monday that the country continued to assert its sovereignty and territorial rights despite challenges in the South China Sea. China claims sovereignty over almost the entire South China Sea and the Spratly island, which consists of many islets, reefs banks and shoals and lie in the centre of South China Sea and along major shipping lanes.

Persons: Thomas Shoal, Thomas, Ferdinand Marcos Jr, Marcos, Albee Zhang, Neil Jerome Morales Organizations: China, Thomson Locations: BEIJING, MANILA, China, Philippines, South, Manila, Philippine, Spratly, South China, Vietnam, Taiwan, Brunei, Malaysia, Beijing

☆ How should slavery and its legacy be taught in U.S. schools?
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +21 min

My father said it was indeed a general store, supplying everything from hog feed to eggs to coal for heating. On the map, I believe General’s Store is the building at the bottom and labeled S for store. Black people appeared chiefly in sketches aimed at amusing readers – or when they were accused of crimes against whites. The letter writer said a young white man in a general store had ordered the woman to put down a can of oil she was examining. I could find nothing that accounted for the death of General Bryson, let alone any item that mentioned the Bryson family.

Persons: General Bryson, General, G.G, Bryson, George T, Williamson, Bryson’s, Lucille Newton Duke, Boots ”, Barbara Newton, Bud Moon, Jim Smith, Smith, Sheriff Culberson, Moon, “, Martin Luther King Jr, Ancestry.com, Jim Crow’s, Margaret Burnham, Burnham, ”, –, ” Burnham, Isaac Gaston, Gaston –, General Bryson –, Walter White, weren’t, Patricia, Julia, I’d, LaBrenda Garrett, Nelson, Thomas Colquitt Hardman, Lamartine Hardman, Hardman, – Hardman, Harry Bryson, Harry, wasn’t, Uzell Mathis, Black, you’d, Terrie Epstein, Epstein, Chara Haeussler Bohan, Alexander Stephens, Mildred Rutherford, Bohan, ” Bohan, ” Chara Haeussler, Ron DeSantis, David Walker, DeSantis, ’ ” Bohan, Jim Crow, Carol Swain, Swain, ” Swain, Booker T, Washington . Organizations: Commerce, Herald, Calvary Baptist Church, Sanborn, Company, Library of Congress, Hurricane, Reuters, Civil, Northeastern University, National Association for, Advancement of Colored, NAACP, New York Times, Jackson County Herald, Arlington National Cemetery, Quartermaster Corps, Harmony, Black Commerce, New, Hunter College, Blacks, Georgia State University, Confederacy, Southern Poverty Law, Union, American AP, Republican, Yale, Harvard Law School, state’s Department of Education, –, demonize, Washington, Tuskegee University Locations: Jackson, Mt, Calvary, Hurricane, Hurricane Grove, Jefferson, Winder, Maxey’s, Donalsonville , Georgia, Donalsonville, Commerce, Georgia, Atlanta, Jackson County, United States, Brest, France, Arlington, Harmony Grove, Commerce Jackson County Georgia, Black, Grove, Michigan, Confederate States, America, Southern, South Carolina, Mississippi, Texas, Florida, demonize America, Virginia, Washington

☆ Deutsche Bank downgrades Walgreens on worrying outlook for pharmacy stock
▼ + stars: | 2023-06-28 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Walgreens ' management just flashed a warning sign for the year ahead, and Deutsche Bank thinks investors need to stay on the sidelines on the stock. The bank downgraded the pharmacy stock to hold from buy on Wednesday and lowered its price target to $34 per share price from $46. WBA YTD mountain Walgreens stock is down more than 23% so far this year. Hill noted that Walgreens now expects fiscal 2023 adjusted EBITDA between losses of $380 million and $340 million. Walgreens also cut its fiscal fourth-quarter earnings guidance and reported a weaker-than-expected fiscal third-quarter profit .

Persons: George Hill, Hill, — CNBC's Michael Bloom Organizations: Walgreens, Deutsche Bank, WBA Locations: F3Q

☆ 21 stocks small-cap funds are buying the most to bet on explosive earnings growth, according to a fintech company
▼ + stars: | 2023-06-16 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Below is a list of small-cap stocks most held by funds and compiled by Fintel. One is the US small-cap growth stocks held by funds with mandates to invest in smaller companies that are generally worth between $250 million and $2 billion. But it also saw a 41% increase in the number of shares held by funds, which points to more bullish sentiment. However, it also saw a 14% drop in shares held by the same group, with three funds shedding their holdings. Below is a Fintel list of stocks held by funds with mandates to invest in small-cap companies.

Persons: Wilton Risenhoover, Goldman Sachs, Risenhoover Organizations: SEC, Nasdaq, New York Stock Exchange, Securities and Exchange Commission, Shoals Technologies Group Inc, Halozyme Therapeutics Inc

☆ First Came Golf’s Flash Grenade. Now, Here’s the U.S. Open.
▼ + stars: | 2023-06-13 | by ( Alan Blinder | Kevin Draper | ) www.nytimes.com time to read: +2 min

For the first time in generations, the PGA Tour was not the unrivaled signature show in American men’s golf. How might players who defected from the tour to LIV be allowed to return? And what about all of that money, said to be $100 million or more in some instances, that the wealth fund promised LIV golfers? Much about the framework agreement, though, is unclear, with bankers and lawyers still rushing to fill in blanks on matters as weighty as asset valuation. (“I don’t have enough information about the deal yet to have an unfavorable or favorable view about it,” Patrick Cantlay, a player who is on the PGA Tour’s board, said on Tuesday.)

Persons: Lyndon, Johnson’s, LIV, ” Patrick Cantlay Organizations: Torrey, PGA Locations: Torrey Pines, San Diego, Sea Pines, Hilton Head, Saudi, London, Venice, San Francisco, New York

☆ As interest rates stay higher for longer, these home improvement stocks can navigate consumer trends
▼ + stars: | 2023-06-09 | by ( Alex Harring | ) www.cnbc.com time to read: +10 min

Investors are hoping that next week's Federal Reserve meeting offers more clarity about the path interest rates could take. Rising interest rates squeeze consumers, while a cut to follow should help boost economic activity. These pricey purchases are often financed, and higher rates mean higher costs. "Even if the sticker price of the thing doesn't change, the interest rate still matters a lot for their monthly budget." The "brakes were hit very hard in 2022," largely due to higher rates on the new-home construction side, he said.

Persons: Christopher Herrington, Herrington, Kurt Yinger, It's, James Hardie, Yinger, There's, Rafe Jadrosich, Jadrosich, Seth Sigman, Bank of America's Curtis Nagle, Nagle, Loop's Anthony Chukumba, Garik Shmois, Shmois, Leslie's, Julien Dumoulin, Smith, SunRun, Corinne Blanchard, Citi's Pierre Lau, SolarEdge, Lau, John Bailer, Michael Bloom Organizations: Virginia Commonwealth University, Davidson, Companies, Bank of America, Fortune Brands, UFP Industries, Barclays, Bank of America's, Williams, Pool Corp, of America, FTC, Deutsche Bank, Shoals Technologies, Caterpillar, Cummins, Newton Investment Management Locations: Louisiana, Wall, Sonoma, California

☆ But Would You Wear It?
▼ + stars: | 2023-06-06 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +3 min

But the lack of an actual person strutting the stage in Cupertino, Calif., wearing the product was a notable omission. And there may be no device Apple has made where aesthetics will matter as much as on this one. By making the Vision Pro look like goggles, Apple is wading into the shoals of pre-existing stereotypes, personality clichés and history. Maybe it will be possible to bedazzle the goggles (that would be fun) or add stickers or decorate the cord. Apple has clearly worked pretty hard on the fit, with all sorts of adjustable components, which is something.

Persons: clichés, Gloria Steinem, Jack Nicholson, John Lennon, Eileen Gu Organizations: Balmain, Apple Locations: Cupertino , Calif

Guggenheim says Shoals Technologies is poised to see big market share gains as demand grows. Shoals produces electric balance of system, or EBOS, components for solar energy projects. The solar energy tech company's adjusted first-quarter earnings and revenue topped analysts' estimates. "Demand is solid, but we think SHLS's success is also driven by market share gains. The analyst noted that Shoals hasn't been willing to offer any details on the magnitude of its other business efforts besides solar energy.

☆ Here are Tuesday's biggest analyst calls: Microsoft, Apple, Alphabet, JPMorgan, PayPal, Shoals & more
▼ + stars: | 2023-05-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan initiates Alkami as overweight JPMorgan said the regional banking software company has strong fundamentals. " Bernstein reiterates Microsoft as outperform Bernstein said AI is going "everywhere and in everything" that Microsoft does. Goldman Sachs reiterates PayPal as buy Goldman said it sees further earnings upside after the company's earnings report on Monday. " Raymond James reiterates Palantir as strong buy Raymond James said it's standing by its strong buy rating on shares of the AI beneficiary. Credit Suisse downgrades PayPal to neutral from outperform Credit Suisse said it's too "challenging" to recommend shares right now.

Organizations: & & .

Buffett spoke hours after Berkshire posted a $35.5 billion quarterly profit and said it bought back $4.4 billion of its own stock, a sign it considered the shares undervalued. The meeting features Buffett, 92, who is Berkshire's chairman and chief executive, and Charlie Munger, 99, a vice chairman, answering five hours of shareholder questions. Many recognized it could be one of their last chances to see Buffett and Munger, given their advanced ages. Yongsheng Zhao, who lives in Shanghai and is a researcher for an asset management firm, said he showed up at midnight to attend his eighth Berkshire meeting. "I am inspired by their passion and normalcy," he said, referring to Buffett and Munger.

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Ferrari, Dell, Tesla, Chegg, Penn & more
▼ + stars: | 2023-05-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"We initiate coverage of AMRC shares with a Buy rating and $60 PT implying ~45% upside potential." Barclays downgrades Shoals to underweight from equal weight Barclays said in its downgrade of the solar company that shares of Shoals are overvalued. Morgan Stanley upgrades Dell to overweight from equal weight Morgan Stanley says it's getting more constructive on shares of the PC giant. " Barclays initiates Ferrari as equal weight Barclays said in its initiation of the stock that it's waiting for a better entry point. Cowen reiterates Target and Walmart as outperform Cowen said it's standing by its outperform rating on the big box giants.

☆ Stocks making the biggest moves midday: Uber, Chegg, Dell, PacWest, SoFi & more
▼ + stars: | 2023-05-02 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Uber — Shares of the ride-hailing giant jumped more than 8% after the company reported first-quarter revenue that beat analysts' expectations. Still, the company did beat expectations for the quarter and provide strong guidance. NXP Semiconductors — Shares of the chipmaker added more than 2% after the company beat analysts' expectations for first-quarter revenue and operating income. Revenue guidance for the second quarter was better than anticipated as well. The global bank also announced an upcoming $2 billion share buyback program and restored its quarterly dividend.

Sydney, Australia CNN —Eleven Indonesian fishermen were rescued by Australian maritime authorities from a tiny island after being stranded for six days without food or water, but there are fears nine others may have drowned. The second vessel, believed to have been carrying at least 10 others, sunk in the powerful storm, AMSA said. One survivor spent 30 hours in the water before reaching Bedwell Island. Pictures released by AMSA showed a group of stranded fishermen waving to the rescue helicopter above, silhouetted by a barren white beach. CNN affiliate Nine News Australia reported that the survivors were taken to Broome Hospital for treatment.

☆ 'Unprecedented growth': Citi reveals its 4 top stocks in renewables right now
▼ + stars: | 2023-03-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The world is going through a "rapid and transformational change" when it comes to energy, said Citi, naming four stocks to cash in. When it comes to stocks, Citi prefers geographically diversified companies, in particular those with European exposure. "These companies are leaders in their respective domains, are gaining market share, and growing more than overall growth in the sector," Citi's analysts wrote. Shoals "has no residential exposure and is looking to diversify outside the US, which should allow the company to grow at a pace exceeding industry growth," Citi said. "We like the combination of rapid top-line growth from market share gains and new products."

☆ I'm a professional shark spotter. It took time to get confident at it – this is what I've learned.
▼ + stars: | 2023-03-01 | by ( Richard Holmes | ) www.businessinsider.com time to read: +6 min

Naveron Lesch gave up working on traditional fishing boats to work as shark spotter in South Africa. If we sight a shark, we'll radio the spotter down on the beach and, if necessary, set off the shark siren to clear the water. If it's my day for a double shift, I'll move down to the beach and relieve the beach spotter. So you have to know shark behavior and decide how close the shark is going to get to the people in the water. The biggest shark I've seen was at Muizenberg Beach about five years ago, when I had trainees spotting with me.

Indonesia's Foreign Minister Retno Marsudi met with Chinese counterpart Qin Gang in Jakarta, ahead of a round of negotiations on the code starting in March. Qin added that China and ASEAN will jointly safeguard peace and stability in the strategic trade corridor, through which about $3.4 trillion of goods pass each year. China would work with ASEAN countries to accelerate consultations on the code, he said. Beijing claims much of the South China Sea and has built islands from which it is capable of deploying advanced weaponry. China and ASEAN countries agreed in 2002 to work towards creating a code of conduct and it was 15 years before moves were underway to create a framework for negotiations.

☆ The most dangerous cruise routes, ports, and destinations are in parts of the world where conditions are unpredictable — and help is nowhere nearby, travel analysts say
▼ + stars: | 2023-02-16 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

But some cruise destinations and routes are prone to dangerous conditions and risky activity. These are some of the most dangerous cruise locations around the world. AntarcticaThe world's southernmost continent is among the most beautiful — and dangerous — cruise destinations, according to Chiron and Klein. Cruise passengers during a lifeboat drill in the Northwest Passage near Nunavut, Canada. National Park Service via APCruise lines avoid dangerous portsWhile rough seas and high winds can make ocean travel dangerous, uncertainties on land pose their own risks for visitors.

☆ Cities in Tennessee are constantly getting named the best places to move. Are they?
▼ + stars: | 2023-02-09 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +3 min

Tennessee cities like Chattanooga and Knoxville often show up on lists of the best places to live. Even smaller Tennessee cities have experienced an influx in movers. Even Nashville dwellers are turning their back on city life and spreading out in smaller Tennessee towns like Clarksville, Pleasant View, and Ashland City, according to Frate. "In 2017 my average sales price was in the $180,000s," Frate said. "Now my average sales price is in the low to mid $300,000s."

☆ Shipping Companies Face More Dangerous Shoals
▼ + stars: | 2022-12-30 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

Container spot rates started to slip early this year and their descent accelerated in the second half. The last two years featured supply-chain disruptions, limited shipping capacity and remarkably high container rates. But 2023 will be rather different—and not in a good way, at least from the perspective of the world’s shipping giants. Container spot rates started to slip in early 2022 and their descent accelerated in the second half of the year. The World Container Index compiled by London-based Drewry Shipping Consultants is down 77% so far this year.

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