What US Business Post-COVID Can Learn From Shipping Post-2008

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The focus on ocean shipping vis-a-vis COVID-19 has been on what the outbreak means to the economy and what the economy means to vessel demand and freight rates.

But there’s a different way to look at it: by focusing instead on what ocean shipping has to say about the COVID-19-era economy.

The global financial crisis in 2008-2009 differs in many ways from the current crisis. Even so, what befell shipowners in the decade after the Great Recession offers telling parallels to what U.S. businesses will likely face in the years ahead.

Income streams plunge

Shipowners rode a China-fueled super-cycle in the half-decade before the financial crisis. Record-high spot rates and time-charter rates supported historically steep vessel valuations. Bank debt was abundant, at times covering 90% of asset values. Lenders were relatively indiscriminate in whom they lent to.

When the global financial crisis struck, spot rates plummeted. Owners with long-term

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How to navigate the quagmire of rescheduled nuptials and insurance claims

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White satin dresses, jam jars filled with wildflowers and jugs of Pimms: the mention of a wedding day conjures images of sun-dappled fields and sprawling marquees in which revellers dance and lovers embrace.

For 2020, of course, all that has changed. The nationwide lockdown as a result of the Covid-19 pandemic has seen the nuptials of thousands of couples across the country shift as they face the economic, social, and logistical challenges of postponing their weddings to a later date or cancelling them altogether. Thousands of engaged couples who have spent months saving and planning will now likely spend their wedding dates behind closed doors, separated from friends and family.

According to wedding planning app Bridebook, approximately 64 per cent of 2020 weddings have been impacted by coronavirus so far, either due to postponements, cancellations, or travel logistics, with an estimated loss of £87.5bn to the global wedding industry.

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Best web hosting for small businesses

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The speed of your site and its reliability depend upon the web hosting service you choose. It’s hard to know where to start, so we did the work for you.

Best for Speed

WPEngine

Fast and secure, WPEngine offers useful features like daily backups, but lacks some other obvious details.

All products featured here are independently selected by our editors and writers.If you buy something through links on our site, Mashable may earn an affiliate commission.

Your small business needs a website. Nowadays, it’s as essential as any other kind of presence like a physical shop or your business phone line. A business website doesn’t necessarily need to be expansive, complicated, or even expensive to launch, but you do need some kind of web presence. After all, many users flock to Google first when trying to find a new product or service they require. 

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Fed Action Accelerates Boom-Bust Cycle; Not A Virus Crisis

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The Federal Reserve announced that they were ready to support the stock market and provide backup for financial institutions that might encounter difficulties.

The big day arrived and, other than an occasional glitch that seemed to be unrelated to the heightened global fears, the birth of the new century was pretty much uneventful. Overall, the markets remained relatively quiet. However, trouble was still brewing.

The hyper-bullish technology stock sector was about to reverse its nearly decade-long run to unsupportable and overly optimistic highs. At the center of the hype and fascination were new companies, headed by twenty-something geniuses. They were referred to as startups.

The multiples of earnings that normally applied in order to assess value of these companies was thrown aside. That is because most of them did not have any earnings.

Nevertheless, they were attractive enough to garner huge crowds of support.  Just the hint of a revolutionary

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