We are now, it seems, in the early stages of yet another oil price shock. But who ever heard of a gas shock? The answer is that gas shocks don’t happen.
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You wouldn’t know it from reading our favorite trade journals, but the shipping industry is not immune to “country risk.”
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At present, more than 50 vessels and 800 crew are believed to be held hostage by pirates operating in the Gulf of Aden and the Indian Ocean. International response has not been overwhelming, partly because the most promising remedies are complex and difficult.
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