Does history repeat itself? The recent oil price collapse is uncannily reminiscent of the last shipping super-cycle. A 1960s trade boom stimulated by a superstar economy (then it was Japan, now China), led to a 1970s shipbuilding bubble and an oil price hike. The result was the 1980s freight meltdown and an oil price collapse which helped the recovery. Today's plot is similar, but will it have the same ending?
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