Oil-price rises are taking a big bite out of container-line profits but that will be small beer should surging bunker costs have the massive impact on world trade predicted by some.
"Globalisation is reversible," warned Jeff Rubin, chief economist and chief strategist at Canadian investment bank CIBC World Markets. He says higher energy prices are hitting transport costs at an unprecedented rate and could turn upside down the trade and shipping boom that has taken place since 2000.
Rubin
