Macro Team Co-Head Jason Rotenberg is joined by shipping researchers J Mintzmyer and James Catlin of Value Investor’s Edge to discuss the state of global shipping and how it connects to inflation, commodity markets, geopolitical risk, China’s recovery, and other key macro issues.
Shipping may be a relatively small sector by itself, but its connection to nearly every part of the global economy makes it an important part of tracking how different themes are developing and a great tool for perceiving issues that may matter a lot down the line. And when something goes wrong-as seen during COVID-shipping can transform from a minor pressure to a very material one.
The conversation covers a wide range of topics, including what shipping tells us about the state of COVID-era supply problems, China’s economy, Europe’s ability to obtain natural gas, the potential for disruption in the oil market, how geopolitics are affecting supply chains, and the impact of ESG and the green energy transition on investment.
Recorded August 28, 2023