Comment / On the wires: Hapag-Lloyd – worth $76bn; Q1 $4.7bn income; 0.4% tax rate

It’s uncanny that daily, relentlessly, the debate concerning what could ever be done to target the bad boys in shipping, the ever richer box lines indeed, moves to a new level – without actually achieving anything material.

The FMC is after part of the money they made, fetching peanuts in the process. So far. It’s a start, sure, and US President Joe Biden has them in his sights. But the classic ’too little too late’ seems already to apply all round ...