Shipping has enjoyed the best three months of business for 13 years, with soaring rates and a bounceback in world trade.
This exhilarating performance — as measured by Clarksons Research — appears to bring the industry back to the golden days that ended in 2008.
That year, the financial crash hit. The US and then the world woke up to the risks of a reckless lending binge and over-exuberant stock markets.