Baltic Dry Index Nears Breakout As "Perfect Storm" In Global Shipping Emerges

Israel Says Hezbollah Fired Rockets, Breaching Lebanon Ceasefire Just as the Iran ceasefire seems on the brink of collapsing (though unilaterally extended late in the day Tuesday by Trump), so does the Lebanon one as well, as on Tuesday Israel accused Hezbollah of firing a new rocket volley at its IDF forces, effectively breaking the ceasefire. The Israel Defense Forces said Hezbollah targeted its troops in southern Lebanon, seeing in this a breaching of the fragile ceasefire ahead of a further round of US-mediated talks between the Israeli and Lebanese governments. Illustrative...

Kuwait Declares Force Majeure As US Seizure Of Iranian Ship Escalates Tensions By Charles Kennedy of OilPrice.com Kuwait has declared force majeure on shipments of crude oil and refined products after disruptions at the Strait of Hormuz prevented some vessels from entering the Persian Gulf. The move comes as tensions in the Strait escalated again following the U.S. seizure of an Iranian-flagged cargo vessel in the waterway. According to Reuters, Kuwait Petroleum Corporation has notified customers that it is invoking contractual clauses allowing it to withhold certain scheduled deliveries after the blockade hindered...

Although most economists tend to overemphasize the desirability of particular ways of collecting tax revenue as opposed to others, a tax on profits is perhaps one of the most evil and disastrous forms of taxation conceived.