Maersk eyes 'cut and run' moves as port congestion brings delays
*Edited at 10:45am on 12 February to include a response from PSA Singapore and Maersk* Maersk ...
© Mingwei Chan
By Alex Lennane
The economic results have begun to come in – and it’s not good. Singapore, the trading hub, has revealed that it is heading for its first full-year recession in 20 years. GDP fell 2.2% year on year, and compared with the previous quarter, it fell 10.6%, its biggest quarterly contraction since 2009, reports the BBC.
The news is an indication of what is likely to happen elsewhere…
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